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2008

No Inoculations: U.S. Economic Plague Runs Its Course
Monday, 08 December 2008 07:01
by Peter Stern

For the past 8 years I have been writing and prophecizing about the demise of our economic system and expressed my concerns about the mismanagement of the Bush administration and the ever-increasing record number of home foreclosures; these issues were ignored blatantly by national and state officials. In addition, I was besieged by many responders to my commentaries that I didn't know what I was talking about, that the economy was fine and that there was no need for concern.

So, for all of those folks here it is: "I told you so!"

Two years ago, as I continued to write that in my opinion, the U.S. had entered into a recession that would grow into a deep depression, the likes of which had not been witnessed since the Great Depression of the 1930's, elected officials and other responders continued to ignore my perspectives and even were derogatory in conveying that I was dead wrong.

Now, it seems, that the Bush administration and its financial advisors are acknowledging (finally) that we are in a mess economically, but the government still is botching the lives of most Americans. The business bail-outs, as I have mentioned many times, will do little to "bail-out" the American economy or the majority of us who fearfully are watching our savings, retirement pensions and homes disappear from our possessions.

Currently, the Bush administration wants to use more and more of our tax dollars to provide relief to various businesses and to the housing markets.

Well, it's too late to do much about this issue. The depression must run its course and become much worse before getting any better. Eight years of overspending our tax dollars irresponsibly along with poor short and long-term decision-making inevitably has caused our economic decay and collapse.


What Bush and the administration still do NOT comprehend is a simple mathematical awareness, that whatever elements you change on 1 side of an equation has a great effect on the other side of that equation. Our administration is altering many issues on one side without considering the long-term ramifications of those changes. In other words, we still have NOT learned our lessons.

Already half-way down, our officials frantically are trying to stop sliding-down the steep, muddy mountain side, but gravity and the natural elements are against the success of that venture.

Still, the American people remain passive, permitting our government to throw-away more of our tax dollars that we don't have, based on faulty financial information and poor decision-making. This time — instead of spending TRILLIONS on an absurd war and restoration in Iraq — we are throwing-away our money on clueless fantasies to save financial and industrial corporations. This is another bad decision founded upon many more bad decisions during the past decade.

Greed, one of the 7 deadly sins, finally has brought America down to its knees.

Yet, we continue to be conned by our officials, who still remain ignorant. We still remain passive to the whims and desires of our elected officials and their wealthy special interest campaign contributors. Poor leadership and their sheep have lost their way. Suddenly "American, the Beautiful" ain't so pretty any more.

When will we learn?
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rockyc said:

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Bush and company
I would argue that Bush and company know and have always known exactly what they are doing. The past few years have been spent lining the pockets of the rich and the corporations so that they can see the depression or recession through with little or no discomfort. They might be mean and heartless, but they are not stupid.

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What Bush and the administration still do NOT comprehend
 
December 08, 2008
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