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Insert Political Post Here

04 Oct

I’m not really big on gabbing about politics, in any medium, because it’s sort of like gabbing about the sports scores of last night’s game: it’s all fairly transitory and, in many cases, inconsequential.

But this Bailout business, it really irks me. I was relieved and happy when it didn’t pass the first time, grim when it DID pass the second time (and disappointed. America: If you vote no, we’ll keep badgering you until you vote yes). And then not surprised when articles started appearing pointing out that it bailed out WALL STREET, and the rest of the country needs to get its shit together on its own, so that the bailout will be a success.

It’s amazing how little bailing out this plan seems to accomplish.

My biggest problem with the bailout is this: It’s just going to make the problem worse. The reason we have a credit crisis, a housing crisis, a spices crisis, a Crisis In Outer Spaaaace, and whatever other crisis you care to name…is because nobody’s got any money. Bills aren’t being paid, because no one can pay them.

THAT’S yer problem right der.

Treating Wall Street is treating a symptom. Mostly, it’s just safeguarding a whole lot of people who are already making a big chunk of money more than most Americans (and I’m not even talking about company CEOs).

The thing the Bailout keeps talking about is that now, the financial industry can start issuing new loans and lines of credit.

Um.

That’s what started the problem in the first place.

All it’s done is ensured that now, I can take out MORE lines of credit which I will, in the future, not be able to pay off, because I lack the money I lacked in the first place.

It makes me nervous, for a further reason. Maybe I’m being a bit doom and gloom, but I don’t think so. I do think that when the bailout plan fails to magically fix the country, and when we vote in a new president, and HE fails to magically fix things…a lot of disappointed, angry people are going to take to the streets and riot. It’s what happens. People in power forget about the populus. They set up “proper avenues through which to make your issues known,” and then they stop listening to those too. And sooner or later, frustration boils over and people take to the streets. And THEN the people in power listen to the wrong message (oh, we need more police forces and government powers to stop this sorta rabble rousing).

Sigh.

I think all of this stuff makes now a fine time to 1) Move somewhere very safe 2) watch funny videos on the Internet, and 3) Pet a fuzzy kitty.

Honestly, if everyone pet a fuzzy kitty, the world would fix itself overnight.

There. We now resume your regularly scheduled muandring blog about nothing very much.

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4 Comments

Posted by on October 4, 2008 in Uncategorized

 

4 responses to “Insert Political Post Here

  1. tjwriter

    October 4, 2008 at 3:09 pm

    You’re right you know, but the idiots are going to do what they do, the people will never get it together to send a loud and clear message as a whole, so I just sit quietly and watch.

    I’m with you on the move somewhere safe, like the middle of nowhere, but then I’ve been feeling very anti-people lately. You Internet lot are about the extent of being social that I desire. I think it might be a pregnancy thing though.

     
  2. Pete Tzinski

    October 4, 2008 at 4:40 pm

    I can certainly see where pregnancy would make anyone anti-social. I always thought it was very reasonable that it made some women very anti-MEN… 🙂

    I keep telling my wife we should move to Scotland, perhaps, or one of those small countries that mostly, people don’t bother making speeches about and trying to invade. President Bush never goes “We must stop the Scottish before they take over the world!” for example. Mostly, I’m grateful I don’t live near Wall Street. Out here, in a small city — on the edges of it, even — in Minnesota, I think I’m pretty safe from potential riots.

    The “Internet Lot” is about the extent of my socialization anymore, too. Which is fine. You lot are wonderful. Although occasionally, I begin to think that I should really go completely off the internet for the duration of time it would take me to write a novel. I don’t write well when I have interesting people as an outlet for thoughts and ideas. It uses the same engines, I think (Bill Gibson, a genius, said that).

    Now I’ve wandered off topic, in a veering sort of way, but I can do that. It’s my blog. 😛

    (I like this new template…I wasn’t expecting to)

     
  3. James Ritchie

    October 6, 2008 at 8:18 am

    Well, I hate the bailout bill, too, but I don’t think it’s all doom and gloom. Credit is essential, not so much for home buyers, but for businesses. Business credit is what really dried up, and what this should restore.

    Nor is this money being given away. The mortgages are essentially being bought by the government at intrinsic, rather than face value, meaning an average of sixty cents on the dollar. The Swedish government actually made a fair profit with this exact type of bailout, and reestablished a fair number of banks in the process.

    And contrary to what many think, the purpose of this bill is not only to bail out Wall Street, but to bail out homeowners and retirees. Most pension plans have already lost fifteen percent of their value, and it was getting worse. A fair number of successful businesses folded not because of lack of profit, but because credit lines no longer existed, even for those who had always paid back every dime on time.

    I have no doubt some will get rich off this bill who should be in jail, but I also have no doubt that millions of pension plans will be saved, as will thousands of homes.

    Nor does this bill allow the type of credit lines that got us in trouble. In fact, it expressly forbids loans to those who can’t readily pay them back.

    Is this a bad bill? Yes. Is it needed? Yes, I think it is. Things may well get worse before they get better, but without this legislation I think we would have been staring another Great Depression right in the face.

    Really, bills aren’t being paid not because people have no money, but because people don’t have ENOUGH money. The reason they don’t have enough money is because huge loans were given to people with small incomes.

    You can thank Congress for this. Under the tehory that everyone should be able to own a home, they mandated such loans. Now they blame for mortgage companies for doing what the law said they had to do.

    Selling bundled loans was an attempt to make the good loans and stupid but mandated loans balance out. Of course it didn’t work.

    Among other things, his bailout allows mortgages to be renegotiated to approximate true value of property, along with properly reduced monthly payments. That’s a good thing.

    But for good or ill, the fate of Wall Street is the fate of the average American, and the fate of most of the world. Pretty much every pension plan and every business in the country is tied to Wall Street, and if Wall Street collapses, we’re taking a time travel trip back to 1929.

     
  4. Pete Tzinski

    October 6, 2008 at 8:42 am

    It makes me a happy guy when people argue with me, and do so in a measured and intelligent fashion. Not least because with all sorts of opinions I hold, I can be talked out of them and into something else, by power of sensible debate. I like that.

    (This message, cheerful though it is, fails to respond to you, James, in any accurate and reasonable fashion, because I’ve got about thirty seconds on the internet, and then I’m off and away. Which is a shame, because I’d love to reply and go back and forth with you on it.)

     

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