This graph explains the true culprit of the economic crisis
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Rage... and Springsteen. Talk about a match made in heaven.
Bruce always has had his finger on the pulse of the nation:
"Foreman says these jobs are going boys, and they ain't comin' back.
To my hometown..."
Great interview with Tom Morello in the current issue of Rolling Stone, BTW.
yeah this quote of his is awsome:
"America touts itself as the land of the free, but the number one freedom that you and I have is the freedom to enter into a subservient role in the workplace. Once you exercise this freedom you’ve lost all control over what you do, what is produced, and how it is produced. And in the end, the product doesn’t belong to you. The only way you can avoid bosses and jobs is if you don’t care about making a living. Which leads to the second freedom: the freedom to starve."
The government did not tell banks to package the toxic loans many times over, fraudulently write them as AAA grade, and hide their actions under various smoke and mirrors of the "free market". This is a case of robber barons lending you thousands and then demanding millions back because you couldn't make payments on their insane interest rates. The government is complicit in enabling billions of public money to go to to paying them which is the same thing as theft.
The "we are in this problem cus poor people wanted homes" or "its because too many people gambled" or "the government was stupid" is only part of the illusion to make these criminal Wall Street SOBs appear as the victims.
i don't see anyone calling the wall street fraudsters "victims". most people think they should have IMPLODED with their bad decision making, instead of having the government bail them out and allow them to keep fraudulent bonuses that were unearned.
whose fault is that? hey should have failed-as that is how free markets work. what we got was government socializing the losses on the backs of everyone.
it certainly would have been better for the country if bad decisions had not been rewarded. every time you have malinvestment you have money diverted from the good of the economy.
and we STILL don't have any fixes to the problems!
The bailout plan was already in the works before even the crisis officially hit. Wall Street needed their "hard earned" money, no matter if the rest of us had to bleed for it. Those for companies like GM were mostly an afterthought compared to the banks.
NONE of the bailouts were good.
NONE were better than others.
all represent diverted capital-MALINVESTMENT into failing institutions, with increasing debt and interest payments forced on the american workers.
there has to be change-or it just kicks the can down the road.
of course, that was the intent, wasn't it?
america's freedom is tied into economic independence, and it is being squandered.
Rescuing GM and Chrysler from disappearing had more to do with millions of jobs at stake than with corruption and incompetence within GM/Chrysler over decades. No sane person would want another 2-3 millions jobs lost on top of nearly 8.8 million that were lost during the recession.
What makes the millions of jobs related to the car companies any different than the millions of jobs related to Wall Street/banking? Most of those jobs make under 50K per year.
FL Bob (who this question was referred to) stated that no company should have been saved, hence my question if he supported the car companies being bailed out.
Last edited by NSHL10; 10-03-2011 at 08:18 PM..
Reason: changed sentence
I can't understand for the life of me why the U.S. Government is letting a private entity print and control the flow of its money. Do you think if we get rid of the Federal Reserve,come up with a totally different currency and control the flow would this help our soon to self-destruct country?
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