Capitalism....or Communism
And how are you enjoying the recession so far?What has changed in your life, what do you think will be the biggest change to your life over the next few months to a year, due to the recent changes to the global economy?
I love waking up in the morning and eventually getting to my office, where upon swiping my security card and hearing that wonderful beeping noise I am re-assured that at least for the next few hours I am still employed! Waking up morning after morning and hearing the news day in and day out of this that or the other corporation laying off massive percentages of their workforce. It’s really scary, and the day you aren’t scared is probably the day you should be (I know that sounds negative, but damn it’s a reality)…I heard this morning that the average price of a home in Detroit is now $18,000 – no I am not missing a 0 in there. Now granted that this is the city of Detroit and not Metropolitan Detroit and the suburbs where houses in the millions are found, but still, $18,000 in the Motor City – that’s astounding to me.
All of this greed and money has brought U.S.A. to the brink of bankruptcy. The B word might sound a tad harsh to some, but to some, bankruptcy is a possible outcome of all of this. At the end of the day the Irish Man from the South (O’Bama) has inherited a national debt that is baffling to most pundits and since taking power has added a Trillion dollars to the debt (if not more), most of which is going to the banking establishments in the States. While the war is now something that will come to an end, it’s costing this administration almost 5 billion dollars per WEEK to wage this war, a war against a single terrorist and his band of renown. Not included in this cost is the cost of the lives lost, in my opinion, senselessly, but heroically. In the end, the US is expected to be in the neighbourhood of 15 trillion dollars in debt (it’s currently almost 11 trillion). The big question is where on earth does the US believe that they will come up with this money? It’s not really like the US has an industry it can count on to help it alleviate national debt (as Canada has Oil and Minerals, China has Steel and people, Iraq has Oil). It’s quite troubling to me. With all due respect to the Irish Man, I think that he’s disappeared for a fairly good reason…He’s got rookie people working with him and they are all saying and doing the things that he was elected NOT to do – spend more money on nothing. It doesn’t help that Bernie Madoff scammed 60 billion bucks out of the economy, but 60 million isn’t going to keep GM afloat for a month.
So where does this put the US? If I knew that I wouldn’t be writing a blog that three people read – in the end, the US probably won’t go bankrupt, but in the end the housing and mortgage crisis, the lending fiasco and the stock market crash of 2008/2009 will probably not be the biggest news story of the year, it will come down to the governments inability to keep spending under control and there continuing inante ability to hand out monies in hope of making all things better. Spending out of a recession, the results may not be as good as originally thought.
posted by G.M. Shier @ Thursday, March 12, 2009
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home