My wife, Cindy, told me of an interesting change. Financial institutions have always offered each other loans at the end of a day of trading on the stock market. You know, some company ends the day a few thousand dollars in the red and a friend covers their losses until the next day when the debtor pays the loaner. When Merrill Lynch folded, this practice ended. The growing problem is that loaners no longer see borrowers as solvent enough to pay their bills. Ultimately, it's a matter of trust. Amazingly, the financial security of our nation boils down to a virtue.
"What caused this problem?" Cindy asked. We agreed it was greed. Too many people in our country want something now even though they can't pay for it. The poor can't afford to want, the middle class can't afford to over extend. In other words, it's not us. Cindy summed the entire thing by saying, "How could anyone think we can put a Republican in the White House...again?"
Anytime we read "the government bought out..." like some company's bad debt, they do that with tax payers' money. The term "eat it" is saved for the people who actually suffer the loss, and we taxpayers are eating it and have been for a long time. Our legislators have the right to inprison us if we don't pay our taxes, and then they spend the money in such a way as to keep their seats. The answer is not to vote them out of office because the lines of people waiting to take their places for the same perks are long and restless. Hopefully, a president is coming who can stick his finger in faces on both sides of the aisle and say shame on you, and can then kick them in the privates.
We don't have a true royalty in our country, but politicians, celebrities, and the ultra rich will do. I don't know if the French had it right, so many years ago, guillotining the aristocrats, but there are some days, I must admit, that I would stand in line in the rain for my turn to sharpen the blade.
Thursday, September 18, 2008
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