Bail Out fails Market drops by 777 points Houston we have a problem
Alan E. Moses
September 30, 2008
The blame game begins in earnest. Republicans and Democrats a like point fingers while one trillion dollars worth of the economy disappears. Congress fails to unite and bring a passable bill to the floor of the House. Nothing new as Washington proves that itīs not only the economy in turmoil. The entire American system is stumbling into the 21st century. The American dream has passed and without major changes the outlook is becoming more apparent.
The financially and politically draining war in Iraq, A healthcare system that is failing, an auto industry on the brink, the Banking community that has become overextended. You can go on and on as 2008 is the year that the balloon pops. We have cut our own throats by allowing this to happen as we became apathetic and concentrated on our own personal problems. We Americans have lost sight and track of what is going on around us that in truth determines the path we have chosen.
We have joined the game of playing into the economy based on debt. Thatīs where you must borrow in order to just survive. This in truth is where the problems are. Maybe itīs time for real change. Itīs time that we have a federal government that regulates and looks after the peopleīs needs and stops giving away our futures. Most of us have seen the fiasco in the insurance industry. I just witnessed a company in the healthcare field charging Medicare $107.12 every month for the rental of a device that can be purchased for $119.00 out right. I have seen a bill for 43 cents that costs more to send out then what is gained.
There is no oversight at any level of our economy. There is no oversight on our government. The housing boom and the way Wall Street sells loans to each other is something that has proven detrimental to the economy as a whole. People out of work and loans that are unattainable are the result. Our energy costs contribute to less money available for everything else like education and healthcare.
The global economy has only taken our lifeīs blood from us (JOBS). We set the system up to work a certain way then pulled the rug out by moving the middleclass good paying jobs overseas for the sole purpose of increasing profits for the few. The claim that itīs our small businesses that are the backbone is most laughable. We have systematically made it impossible for these businesses to compete in the economy of today.
The family owned drug stores, gas stations, hardware stores etc. These have gone away as the big fish have been allowed to eat all the little fish. We now have a country that allows 5 boardrooms to decide our fate. Those at Wells Fargo, Goldman Sachs, Morgan Stanley, Citigroup and Bank of America will make the decisions that will move us forward or take us completely down.
We need to change our ways as they arenīt working. Our government must stand up and start the changes needed now. When something is broken you fix it you donīt go in to debt further as this only will cause the problems to become larger at a later date. After all debt is one of the largest problems that canīt be fixed overnight without the system as a whole being repaired.
The financially and politically draining war in Iraq, A healthcare system that is failing, an auto industry on the brink, the Banking community that has become overextended. You can go on and on as 2008 is the year that the balloon pops. We have cut our own throats by allowing this to happen as we became apathetic and concentrated on our own personal problems. We Americans have lost sight and track of what is going on around us that in truth determines the path we have chosen.
We have joined the game of playing into the economy based on debt. Thatīs where you must borrow in order to just survive. This in truth is where the problems are. Maybe itīs time for real change. Itīs time that we have a federal government that regulates and looks after the peopleīs needs and stops giving away our futures. Most of us have seen the fiasco in the insurance industry. I just witnessed a company in the healthcare field charging Medicare $107.12 every month for the rental of a device that can be purchased for $119.00 out right. I have seen a bill for 43 cents that costs more to send out then what is gained.
There is no oversight at any level of our economy. There is no oversight on our government. The housing boom and the way Wall Street sells loans to each other is something that has proven detrimental to the economy as a whole. People out of work and loans that are unattainable are the result. Our energy costs contribute to less money available for everything else like education and healthcare.
The global economy has only taken our lifeīs blood from us (JOBS). We set the system up to work a certain way then pulled the rug out by moving the middleclass good paying jobs overseas for the sole purpose of increasing profits for the few. The claim that itīs our small businesses that are the backbone is most laughable. We have systematically made it impossible for these businesses to compete in the economy of today.
The family owned drug stores, gas stations, hardware stores etc. These have gone away as the big fish have been allowed to eat all the little fish. We now have a country that allows 5 boardrooms to decide our fate. Those at Wells Fargo, Goldman Sachs, Morgan Stanley, Citigroup and Bank of America will make the decisions that will move us forward or take us completely down.
We need to change our ways as they arenīt working. Our government must stand up and start the changes needed now. When something is broken you fix it you donīt go in to debt further as this only will cause the problems to become larger at a later date. After all debt is one of the largest problems that canīt be fixed overnight without the system as a whole being repaired.
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