Fiscal Discal
I haven’t written anything about the Great New Depression yet, mostly because I have the financial acumen of a tree slug. But it’s TERRIFYING, right? Considering the fact that we have yet to see what the fallout is going to be. I’d love to think that it’s only going to affect bankers, but I gots me a feeling we’re going to see a lotttt of people losing their jobs soon who have nothing to do with the banking industry. One thing is for certain: George W. Bush is quite possibly the most ILL-EQUIPPED HUMAN BEING ON THE PLANET to deal with any crisis, particularly one that involves things like “numbers” and “math.” The next 3 months are gonna be hella brutal.
I point you to the estimable Joe Conason:
Now that we’re all about to take on hundreds of billions or perhaps a trillion dollars in new public debt to redeem the nation’s super-smart corporate financiers, there is one thing I hope we can expect in addition to postponing the apocalypse. Will they all please shut up about the wonders of the unfettered free market and the horrors of big government?
EXACTLY. You know why we need government in the first place? To save us from our worst impulses. If you still believe, after all this proof, that banks and corporations freed of oversight will regulate themselves, you are a SIMPLE-MINDED JACKASS.
September 19th, 2008 at 10:16 pm
The soundbite that rings truest for me during all this big bank craziness: “The profits were private, the failure is public.”
I know there are probably sound economical principles for bailing these fuckers out, but it peeves me that for the most part, the management level employees at these failed companies were paid more in a year than I’ll make in a decade. And now they need help. Blah!
September 20th, 2008 at 12:01 am
The scary part is… we aren’t just bailing them out, we’re trying to keep ALLLL of us from being totally fucked.
It annoys me that Financial Gurus are always portrayed as the smartest shits in the world in movies. Sure, we were public school losers or whatever, but honestly we had a goddam smart graduating class. Did ANYONE go into that industry? I can’t think of anyone. I think only the people who want to be smart but can’t actually PRODUCE anything go into playing with numbers, and then all of us rely on their ability to guess the 1 and carry the 2.
Sure, I’m a bit inebriated right now (thanks to a Talk (and Dress) Like a Pirate Day Parrrrty that I totally won by letting my Theatre Geek colors shine brightly), but I’m also a bit pissed off, and a bit indignant, and a wee bit arrogant, but mostly pissed off! Grrrrr!