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northsider

Chicago

Member Since 2004

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Tuesday Jan 20, 2009

Jan 20, 2009
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Foaming At The Mouth
Spare Some Change?

Some years ago I knew a guy who when approached by beggars who asked 'Spare some change?', he'd snap back at them "Change comes from within." It was a smartassed answer by any measure, and probably not an entirely praiseworthy gesture towards some poor bastard wearing cardboard shoes. Well, now I was sick of the Presidential election long before Election Day and the only good thing about Inauguration Day is that I don't have to hear nearly as much crap about how magical it all is. Especially the fact of CHANGE.

The only news I cared about was that after the collapse of the American banking system, now the British banks are in turmoil and the stock market took another shit today. It's a great big shit sandwich that should concern anybody who hopes to earn an honest living in the foreseeable future, especially if your business needs money to expand or to tide them over a dry spell. (Those with a significant interest in the subject of why the banks are in a mess and what politicians had to do with it could read up on the repeal of the Glass-Steagall Act in 1999 Or ask me to explain it. I dare you.). One thing that occurred to me as I saw the festivities on TV is that we really can't lay the blame on George W. for much longer.

Then I thought about it some more. Blaming Bush is just too easy. And that's the problem, great and small, looking for easy answers and scapegoats. For all we can say about Ohio in 2004 or Florida in 2000, it doesn't change the fact that an overwhelming number of American voters (the ones who bothered to be involved in the process) were buying the horseshit that Bush's handlers had to offer.

-We don't need the rest of the world's help to ensure peace for ourselves and our interests abroad
-We don't need to face fiscal responsibility either in budget restraint or watching over private banks
-We don't need to pay attention to impact of our actions on the environment or ensure energy independence
-We don't need to take responsibility for actions. We will just leave it for somebody else to clean up.

It was a mighty seductive message for the nation of lazy and ignorant voters out there. George W. Bush may be gone, but the people who were gulled by his message still are. We've got the boot on their throats today. Let's not ever let it up. That's the real change for America that we can bring from within.
VIEW 3 of 3 COMMENTS
notoriousdug:
OK, so if I am reading all of this right no small part of our current mess is due to the fact that in the late 1990's we repealed laws put on the books shortly after the depression to prevent it from being able to happen again.

The tech crash then helped to set in motion a slow down turn that spiraled down into what we have today, not entirely unlike what happened after the market crashed in 1929.

Our time line was a bit longer it seems, is this because of some of the other measures that where in place to prevent the bottom from falling out of the market completely slowed the fall or is it just a less severe situation this time?
Jan 22, 2009
notoriousdug:
I'm glad other people who pay more attention to this stuff then I are commenting about the fact that when banks where given the first round of cash they choose to sit on it and still kept credit clamped down which was no help to the situation.

We, as a company, ended up in a bind because we can not get a re-fi on out building.
Jan 22, 2009

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