The Deregulation Blues
Deregulation is a bust. The Stock market says so. My 401K says so. Financial institutions and businesses around the world say so. They’re all in debt up to their eyeballs, and sinking fast. Without government bail outs, funded with monopoly money, they’ll drown, and suck us all down with them.
The U.S. government doesn’t have the money to bail anyone out. They need a bail out themselves. The National Debt is at Mt Everest heights and climbing. How far will the monopoly money go, with bail out after bail out, before the USA, too, goes under? Did they forget that money doesn’t grow on trees?
The Bush/Republican philosophy of deregulation is to blame for this. The benefits of deregulation were built with mirrors and smoke. Life was grand - for awhile. Our homes values and 401ks sky-rocketed. We all drove big gas guzzling SUVS. Big Business and the markets flourished.
But now the smoke has cleared. It began with the housing market crash, and continues to snow ball . Reality has hit us all hard. We’re being pummeled by Hurricane George. And Hurricane John is close behind.
It’s time to bring regulations back and keep those blood sucking leaches in line. Regulations will protect the little guys from what they don’t know, and protect the big guys from eating themselves alive.
And the republicans are not going to be the ones to get us out of this big stinking deregulation mess.
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Comment by Joseph @ Debit versus Credit on 21 September 2008:
I couldn’t agree more with you about how the government shouldn’t be bailing others out when in reality THEY need a bailout. In fact the last two blog posts I’ve written both related to this. It’s honestly disturbing to me that our government has taken on so much RISK with our taxpayer dollars. For what? Because they are afraid what will happen to us if Citigroup or Merrill or BofA have some hard times or, god forbid, have to consolidate with each other?
My money is fine and safe where it is with USAA and a local credit union. Both of which are in fantastic financial shape.
Comment by Trackbacks on 18 November 2008: