doom.
I know, I know, my doom-saying is kind of annoying. But I want to find some kind of outlet, maybe it will make me feel less sick...
I think the "compromise" bailout bill is coming through the pipe is a bad idea. A very, very, very bad idea.
A co-worker asked what I thought about the whole bailout, so I responded
----
I'm still opposed to the bailout bill, proposed by secretary Paulson and backed by Still-President Bush, even after I've done more reading on it. I disagree with the bill in principal, and in implementation.
The most alarming thing about it is that in it's current incarnation (last I read), it has next to no accountability measures. It also affords protection to the executive branch against any potential legal disputes regarding implementation. It gives a scarily heavy blank check with no strings attached to the executive branch of our government, a government which we have very little reason to trust with 4 months left.
This bill, that the executive branch has been working on for months, was hastily revealed, and encouraged with the same kind of now-or-never do-or-die politics that lead our nation to war in Afghanistan and Iraq. Fool us once, shame on you... Fool us twice, shame on us. I'll watch wall street fall before I agree to let us all get suckered again.
The bill is indicative of a deeply perpetuated class system in America, where connected haves are set afloat on the backs of the collected have-nots. That was my first reaction, and it was that way for a good reason. 700 billion is a little over $5k per tax payer ON TOP OF the rest of their debt, and depreciating values of their dollars. This $700 billion creation of capital is also an inflationary event, and will hurt the value of our currency forever.
I agree with Ron Paul that this bill is price-fixing by proxy, of worthless and imaginary assets, that need to stabilize at a real market value of close to zero. Throwing money at these devices is like throwing light drugs and pep-pills at a drug addict who needs to hit rock bottom. It is an utter waste of our resources, and nothing but a time sink for them.
Education is the only broad and expensive solution I give any real credit to.
We should not be throwing money at the problem under the weight of an imaginary clock. We should be taking measured steps to understand the problem, and educate the public about solutions they can take to limit ill effects from the coming collapse of wall street. any solution that does not prepare us for that collapse is ignorant of reality
----.
It's a bad idea, mostly because it's just plain bad problem solving. We have incredibly complex "investment vehicles" propping up our economy, that we don't understand, and it seems the decision makers would rather be in denial about understanding these things than solving them. We are not solving problems. Instead of solving problems, we're just going to try to fill them with money so they don't collapse under us... But!, and this really, really irks me, we do know that these vehicles have holes all over the place, so the money will disappear.
We need to step off of the investment vehicles, and start salvaging them for parts. We need to lower the standard of living on wall street. Get them down off of this inflated market. This broken, fake, collapsing market. And this bill will keep them up there, amused at how clever they are, and bemused as to why they hadn't thought of this before. (hint: Something similar happened in 1929... Except we weren't fighting 2 wars at the time, and had a more manageable population...)
"Hmmm, I seem to be standing on some kind of fragile balloon, or something, it seems to be breaking apart. Why don't I fill it with Your Blood to keep it's internal pressure high, so it doesn't collapse under my weight... my, I do like the view from up here."
...
"Oh, this device is still buckling... here... you peasants there, why don't you press your bodies against it to keep it from snapping under my weight?"
...
"No? you don't want to help me out? How about I give you no choice, by artificially inflating your need to do so with propaganda... No? OK then, how about taking away all of your other opportunities to do anything else?"
...
I really should be preparing more for this doom. It doesn't look like there is turning back now. There's a whole lot of momentum, and we're careening towards the cliff...
I think the "compromise" bailout bill is coming through the pipe is a bad idea. A very, very, very bad idea.
A co-worker asked what I thought about the whole bailout, so I responded
----
I'm still opposed to the bailout bill, proposed by secretary Paulson and backed by Still-President Bush, even after I've done more reading on it. I disagree with the bill in principal, and in implementation.
The most alarming thing about it is that in it's current incarnation (last I read), it has next to no accountability measures. It also affords protection to the executive branch against any potential legal disputes regarding implementation. It gives a scarily heavy blank check with no strings attached to the executive branch of our government, a government which we have very little reason to trust with 4 months left.
This bill, that the executive branch has been working on for months, was hastily revealed, and encouraged with the same kind of now-or-never do-or-die politics that lead our nation to war in Afghanistan and Iraq. Fool us once, shame on you... Fool us twice, shame on us. I'll watch wall street fall before I agree to let us all get suckered again.
The bill is indicative of a deeply perpetuated class system in America, where connected haves are set afloat on the backs of the collected have-nots. That was my first reaction, and it was that way for a good reason. 700 billion is a little over $5k per tax payer ON TOP OF the rest of their debt, and depreciating values of their dollars. This $700 billion creation of capital is also an inflationary event, and will hurt the value of our currency forever.
I agree with Ron Paul that this bill is price-fixing by proxy, of worthless and imaginary assets, that need to stabilize at a real market value of close to zero. Throwing money at these devices is like throwing light drugs and pep-pills at a drug addict who needs to hit rock bottom. It is an utter waste of our resources, and nothing but a time sink for them.
Education is the only broad and expensive solution I give any real credit to.
We should not be throwing money at the problem under the weight of an imaginary clock. We should be taking measured steps to understand the problem, and educate the public about solutions they can take to limit ill effects from the coming collapse of wall street. any solution that does not prepare us for that collapse is ignorant of reality
----.
It's a bad idea, mostly because it's just plain bad problem solving. We have incredibly complex "investment vehicles" propping up our economy, that we don't understand, and it seems the decision makers would rather be in denial about understanding these things than solving them. We are not solving problems. Instead of solving problems, we're just going to try to fill them with money so they don't collapse under us... But!, and this really, really irks me, we do know that these vehicles have holes all over the place, so the money will disappear.
We need to step off of the investment vehicles, and start salvaging them for parts. We need to lower the standard of living on wall street. Get them down off of this inflated market. This broken, fake, collapsing market. And this bill will keep them up there, amused at how clever they are, and bemused as to why they hadn't thought of this before. (hint: Something similar happened in 1929... Except we weren't fighting 2 wars at the time, and had a more manageable population...)
"Hmmm, I seem to be standing on some kind of fragile balloon, or something, it seems to be breaking apart. Why don't I fill it with Your Blood to keep it's internal pressure high, so it doesn't collapse under my weight... my, I do like the view from up here."
...
"Oh, this device is still buckling... here... you peasants there, why don't you press your bodies against it to keep it from snapping under my weight?"
...
"No? you don't want to help me out? How about I give you no choice, by artificially inflating your need to do so with propaganda... No? OK then, how about taking away all of your other opportunities to do anything else?"
...
I really should be preparing more for this doom. It doesn't look like there is turning back now. There's a whole lot of momentum, and we're careening towards the cliff...