Friday, September 26, 2008

why don't people understand economics?

it's not that much to ask. i don't know everything, but i know basics. here is my unsophisticated shorthand of now:

1)KETCHUP SOUP! we are in a DEPRESSION (yes, the 1930s kind!) The linked article is the first I've seen that makes the blunt comparison to THE GREAT DEPRESSION o' olde!

2) there is a presidential debate happening. someone is acting like the kid who didn't study for the midterm. why: maccain's party is largely responsible for the shape of our current economy.

3) this didn't happen suddenly. we've been on the gradual decline since Bush took office. unemployement, credit crisis, housing crisis, and the US has limited social safety nets able to protect the majority of Americans from poverty.

4) war creates "jobs" and distractions from administrative mistakes.

5) since the New Deal, practically the only "deal" still in existence is social security...which the GOP has been trying to rid of during Bush's term in office. it's suceeded in rerouting the means by which these funds are acquired.

6) without this $700 billion buyout, the FDIC funds (another New Deal creation) would be depleted. meaning, everyone's money in the dissolved corps would be absorbed in the losses. meaning, individuals will have to chalk up the losses of large corporations. most times, these people are folks like you and me. $700 means that as a colelctive, we are absorbing the losses of individuals. had WaMu not been bought out, all of you with WaMu woulda been taken down, as well. i think wachovia is next up for a buyer.

7) traditionally, the US. gov and US corps have been at odds. Corps do not want to be accountable to gov regulation. it prefers the laissez-faire treatment, but yes, corp interests have greatly increased ties in gov --- mostly due to the Regan administration. Corps/gov accountabilty = 80/20.

8) this is what $700 billion saves us from: that scene from Annie singing with folks about Hooverville.

9) $700 billion is not interchangeable with the money that should be used for socialized healthcare, therefore please do not protest about the many ways $700bil can be used. For me, that is money for 466 billion slices of pizza.

10) only show dissent if you know of someone who can lead the junta, or if you've been practicing for the coup' in the meantime. til then ---- your Sharpie marker protest signs on oaktag are a waste of money.

WHY YOU SHOULD CARE: well, you shouldn't. unless you care about your how a third party will justify having your money taken from you.

Get it?

Well, I'm worried for me and my family.


  1. I am, too.

    Still, a majority of my co-workers here at NGC and in the Air Force Reserve are voting McCain.

    Why? Because they think they'll lose their jobs, and they're afraid of "tax and spend liberals" that will drive them to the poorhouse.

    Instead, they'd opt for a "war and deregulate" party that'll inflate the deficit, crash the economy, and have the U.S. lose cred (no pun intended) with the international community on all fronts.

    But at least they'd be handing out golden parachutes to people who have been irresponsible with their retirement funds instead of helping those lazy welfare recipients. *shakes fist*

    Seriously. I don't think I'd want to even live in the US any more if we give the GOP another 4 years of this mess. =(

  2. i've thought about leaving, too. i think i'd go to denmark or norway. better social programs, and the people are just happier.

    2010. might relocate!

  3. also, i don't think people understand why poverty happens. i'm from the structural camp, not the lazy-individual one.