Seeing Is Believing
There's something I can't figure out about the current economic crisis. It seems to me that all the experts, pundits, and financial wizard, in their hysterical desperation to get things back to normal, are hellbent on restoring all the conditions that led to the crisis in the first place. The key to recovery, they say, is consumer confidence. A "con game" is short for confidence game, designed to separate the fools from their money.
posted by John M Crowther @ 7:59 AM
2 Comments:
Personally I think the politicians in DC have flipped their lids. All of them, Dem. and Rep.but even in their craziest moments, they do not hold a candle to the politicians in Sacramento.
John,
You are onto something. Let GM and Chrysler fail without govt intervention. The viable assets will be purchased, and the unproductive crap will go away. Why subsidize a dying business? Tax the hell out of short term gains and make 5+ year long term gains tax free; CEOs/BODs have no real oversight when the owners are transient. The govt should not buy bad loans or subsidize reckless buyers; pressure the lenders to refinance with 100-year mortgages to bring the payments down. Look for SUSTAINABLE solutions.
Lee,
I can't decide which is worse: the legislators in Sacramento or the voters who pass all the spending propositions which override the legislature's ability to prioritize spending. For example, stem cell research was never illegal, but California voters were duped into making it a higher funding priority than schools and public safety. We don't need a higher voter turnout. We need a higher turnout of INFORMED, INTELLIGENT voters.
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