I really don't see how crippling an economy is preventing things from getting worse. I was watching the market daily during the bailouts and every single time one of those windbags spoke of messing with the economy the bottom fell out from the market. As well, everyone knew these damn TARP programs were going to come with strings such as new and untenable regs., deficits, taxes, waste, and abuse......the market reacted in kind. Need more proof, Saturn and Pontiac no longer exist after the auto bailout, but the unions still have all of their perks. Chrysler is still kind of ****ed........GM's CEO was basically fired by the dumbkopf in the white house....... it's pretty much provable that things could have actually gotten better rather than worse if those egotistical dumb ****s in congress and the white house had stopped trying to micromanage everything.
Just ask those that grew up during the last one, some are still alive. In fact, there is theory stating that if the government had done nothing then that a depression could have been avoided in those days as well.
Actually, I've been saying for well over a year now that by doing nothing, we would have been in much better shape. Why you ask? Well, put simply, what I'm about to tell you is something you won't hear on the MSM, or from a politician, because either they don't realize it, or they're too damn stupid. By NOT allowing the banks, AIG, Lehman, GM, etc to fail, and by instituting the bailouts, and then the stimulus, what government actually did economically was spread that failed risk-venture to the common people. Ya see, all that would have suffered from those failures were those that had a direct hand it their investment. Others, you know, me and you, took no risk, hence we would have been spared. In fact, my kids, and their kids, and their kids would have been spared to burden of paying it all back.
The pieces would have been swallowed up by the market, yes that's right, the free market, and if not swallowed, new emerging markets would have been created. The net loss would have been minimal over time, but appear large at first. This is was the smoke and mirrors people talk about when they said it needed to be done NOW. It didn't, and every economist that said it did, I DARE them to call me a liar.
The truth folks is that, the American tax payer, voter, citizen was duped, either knowingly, or unknowingly, but either way, the powers that be made the wrong call.
In sum, the failure of the banks, GM, Lehman, AIG, fannie and freddie, etc... was a direct result of mismanagement, collusion, deceit, and criminal activity. The holders of that risk would have paid a huge price, and yes that means Ma, and Pa, who aren't sophisticated enough to know better, but I say so what. It's not my problem, and in a free market, where risk disclosure is made mandatory, I say, tough, next time buyer beware. We The People are now paying for their troubles, when we shouldn't be.
That's just how smart those lawyers we all elected think they really are!
How do you feel now? Kinda dirty, like you were conned eh? Good, do something about it come November!
Tim-
