The most job losses last month seen than in the last 34 years. More folks receiving unemployment checks ever now since 26 years ago. Ten million unemployed, not including of course the seven million not really unemployed but working only part time from necessity so therefore ineligible for that tallying.
Oh yeah, and the nearly three million who have just given up on even ever finding a job and not looking anymore (hand raised here) and those also whose unemployment benefits to tide them over have expired, too (other hand up) who don't count either.
And still only just yesterday W. used the word "recession" for the first time. Really? Lame duck whatever, more like eight years of lame ass. Trillions in bailouts to the already rich guys, blank checks written with no accountability whatsoever to this or that corporation while some of the rest of us are sinking so far down we don't have a clue which way might even possibly be up and we still the ones expected to pay for this shit?
Okay, to save Capitol Hill face, now the Big Three car dudes are being limelighted as an example for needing to prove accountability, and they expected to detail reasons why they are deserving and must be answerable for yet another unjust bailout since that Wall Street "no questions asked" thing didn't go over so well.
The whole mess sucks. First that this Hank Paulson freak, given Congressional approval for discretionary distribution of the major lump sum of that bulk 700 bil of the original proposal as presented, then not so much sticking to that plan and instead arbitrarily mixing it up doling out funds willy-nilly, ultimately passing blank checks paid to the order of anyone with no liability to truly help the people like myself as was initially intended. They mostly have chosen not to, just more brass in pocket for the greedy really.
You'd think that Congress might have wisened up learning from the Bush fiasco about awarding such broad and vague executive powers to just any asshole (Iraq, Patriot Act, anyone?) but I guess not; advantage Hank Paulson. So now we've got the not-so-jet-setting-this-time-rather-all-hybrid-brought-in-road-warriors heads of the presumed make or break economic cornerstone the auto industry back begging for another bailout. This time for 34 billion versus the 25 billion solicited for just two weeks ago.
Can you imagine if they had waited only another couple of weeks? They'd probably have even hoofed it from Detroit to DC by then, and still have pleaded needing to up the ante for an additional ten or so more Bs. Of course, what the hell difference does it matter anyway, when that free-for-all to the banks hasn't panned out for any potential buyer of their crap being granted credit in the first place?
For those who would even chance applying for a car loan anyway these days, those folks few and far between what with no jobs nor income, the shot for approval however would be slim to none.
I say let the car guys go down. All this talk about putting yet another three million-plus folks out of work, well ... that ain't likely to happen. Let these suits have to file for bankruptcy, I'd wager they would still stay in business just like the hundreds of other companies who have been there done that. Airlines a prime example, having been forced to restructure and refocus and kicking in some common sense management decisions without my footing the bill.
I flew on a Continental flight once way back when in the '90s right after that company had filed for bankruptcy. I don't think, as far as I know anyway, that the flight attendants and God forbid that the pilot were simply volunteers filling in or on a temp assignment, I got there in one piece. And yet despite going under, all these many years later that company is still flying high. Go figure.
I'm no economist, and I've tried to make sense of all of these things going on lately, so I have listened up to both sides of the arguments from either one slant or the other. Basically though, and I will admit to perhaps being totally wrong and even ignorant, but it seems to me the bottom line is that on we-the-people's dime, greed and failure are being rewarded while ourselves continue spiralling downward.
And also that Washington doesn't know its ass from a hole in the ground and is just dog paddling for at least trying to save a modicum of respectfulness in a sea of glaring inanity. Best of luck with that.
This whole thing sucks. What do you think of Obama asking his donors to help Clinton with her debt? I'd say help the people who have lost their homes and jobs. Something doesn't sit right with me when these rich folks are getting all the handouts. Oh but some have agreed to work for a buck a day. Who are they trying to fool
ReplyDeleteYou summed it up fairly well when you said "The whole mess sucks." That it does. The choice of either helping out the Big Three or not helping is much like choosing between the witch and the devil. You do make a valid point that perhaps they would continue after a bankruptcy. I, however, not being certain exactly how bankruptcy would play out, and being increasingly concerned about the very real prospect of another Great Depression, feel that the government should prop them up - with stringent oversight and strings attached.
ReplyDeleteI have no idea how the economy works. The whole system is square to me.
ReplyDeleteLame ass-brain indeed. NOW he admits to some mistakes. The rich get richer, poor get poorer, and the middle class foots the bill. I dig the revolt in Chicago. STOP UNION BUSTING, you rich bastards.
ReplyDeleteAll points well-made. Kind of like Doug, and like I said in my post I've looked at all angles of the thing, I see sometimes maybe why consideration here, but really, bottom line, I've gotta go with finally landing on the side of no more fucking regular folks over who need the help in lieu of propping up those who thought they were pulling the strings for so long expecting me to now fix up the broken strings they broke in the first place and put the rest of us in this mess. It's certainly of those issues arguable either way, I know. Maybe whatever happens, lessons might be learned.
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