I’m disgusted by the common bond found by so many of our elected officials in the last few days-greed and ego gratification. As the most prominent economists in the country voice their objections to a $700 billion dollar bailout plan that will solve none of the problems inherent in the investment banking industry, those who want to be on television and sound important are sounding-off. Never mind the experts. Never mind the American citizen. The House, Senate and President want to cover their collective asses (in reality this IS their fault) and make themselves and their friends even wealthier and more aloof from main street.
I’m amused that Harry Reid is blaming John McCain for “derailing this process”. He’s not responsible, but in the end, Reid may very well be giving McCain the credit for saving the American people from this idiocy and giving John McCain a maverick ride on a populist vote into the White House as the savior for the American ‘regular guy’. “We did not create the problem” says Reid. Yes, you did, sir. He whines about being up until 11 pm ‘working’. Poor baby---how far from our lives are these guys? “I don’t want to bring Presidential politics into this process” Reid claims as he goes on to blame McCain as an interloper into HIS affairs and fawn over Obama’s “precepts set forth for this agreement”! Too funny. Obama’s an economic expert now? Please…..
If Senator Richard Shelby were running for President right now HE’D have my vote. Shelby will come out of this as the winner in the eyes of the American people, just as McCain would have if he’d taken my advice and opposed this ‘Christmas in September for the Super Rich’. Shelby has been the voice of calm, reason, and the common man. If this rape of the American people can be stopped, it will be Shelby who is responsible and he will be my new hero! Republicans are wisely running from their President's ill-concieved plan and that will force this to be an unholy alliance between a Democratic majority and a Republican President whom they viilify as an idiot on a daily basis. Let me reiterate my opinion. This bailout will fail. A recession is inevitable either way. A Democrat President and Majority in power over the next four years will be crucified for being in power as the people suffer from their decisions and remember exactly who backed the bailout.
In the meantime, lets remember, none of this would be happening if we were more like our parents. The generation that survived the Great Depression put their pride and energy into two things: saving money and their kids. My folks were not consumed by living a more lavish lifestyle, not by pampering their kids as a substitute for their abdication of parental duties, not living beyond their means by creating a spiral of debt and overwork to cover their debts. The current generation cried for home ownership. They cried for new, foolish rules to allow them to borrow. They found amoral and weak-willed politicians willing to create new rules that they knew were unsustainable and then in turn allowed banks, brokers, and investors to perpetuate the same sick process knowing it was doomed.
This is a pivotal moment in our history. No matter what happens with this bailout bill the country is about to drop into a massive recession. Those American people who have leveraged their future (and their kids) for the sake of more expensive designer tennis shoes as their car is being repossessed will have to change their ways and learn to find their pride in something less material. We were all taught to believe that the native American was a childish fool for trading his heritage on Manhattan Island for a collection of cheap beads and trinkets in the early days of this country, but what have we done? We trade our self esteem and heritage to places like China and India for our own brand of beads and trinkets. Today we throw away clothes because we’re told that our tastes have become more refined. We buy what we’re convinced we want, not what we need. Our beads have brand names like Nike, BMW, Bose, Sony, Aeropostle, Prada, and on and on. We’re all guilty to some extent and we’ll all have to pay. On the bright side, we may actually emerge as a better country and better individuals for it if we don‘t pass on the costs to our kids and grandkids.
That was ‘better’, not ‘bettor’.
