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Tuesday, September 23, 2008

Bailouts and Failures

As the US and World Financial markets crumble deeper into oblivion there is a major portion of the country and the world who just don’t give a damn, and that is because it just really does not effect them. Baseless rhetoric is repeatedly broadcasting the need to helping those faulting on their mortgages and bailing out the financial markets by using depression like imagery; however this “crisis” is more of a crisis for the rich and those who falsely believed they were rich.

The poor and moderate income classes have been struggling for years. Most Americans have been struggling to pay for health care, fuel, and food bills before. It really did not matter to the Republicans, Democrats, and other talking heads until it affected their interests. An investment with Lehman Brothers was the last thing on most American minds, for it was an activity for the select few. The repeated economic myths either keep people struggling to maintain their lifestyle or push them into depression for feelings of inadequacies. Installed upon us are the myths of the American Dream and “middle class” which have become so prevalent that there is an illusion of a common “middle class” culture.

Politicians manipulate those myths to captivate the populace to their political persuasion. The myth of the American homeowner is so wide that it is common belief that most people own their own homes, but in actuality only one-third of the population does. Furthermore, reality dictates that most Americans do not have the money to invest in the “financial markets” because they just do not have the money. So while the media trumps the continual mantra for the economy, we the people should realize that the actual crisis is for the rich.

While yes, even though I do criticize the “trickle down” theory of economics I do realize that there are residual effects from the economic crisis, so there are needed actions to help common Americans. However great the need for government involvement the first priority is to restore regulations and consumer protections to thwart against future corporate predatory behavior. Years of Reagan/ Bush policy of deregulation (and Clintonian corporatism) have to replaced and restore protection for the American public. While we Americans struggle for the necessities of life, corporate welfare is not to be tolerated!

People are the priority; therefore before any bailouts we should reinstitute and introduced new checks on the economic system to prevent these failures from happening again. The “Free-Market” mantra has failed and it is time to rethink the ideology of greed and constant growth. Senator Bernie Sanders of Vermont has stated it quite elegantly, “If a company is too big to fail, it is too big to exist.” Mere bailouts of mega-corporations are just band-aid solutions, for we need a system wide fix. If you agree with me, join Senator Sanders’ petition to Treasury Secretary Paulson calling on restoration of regulation and ensuring that middle income and working families are not the ones who are paying for this bailout.

It is quite evident that “Free Market” has failed, so let us advance society to a “FAIR-MARKET” where workers are paid for what they are worth, farmers are treated with dignity, and jobs are prioritized based on the importance they are to society, such as teachers, fireman, social workers, and nurses, not a trans-hyper-conglomerate-market-analyst. Business as usual will no longer do, if the system is not fundamentally change the country will collapse further than before.


Robb Kidd

“Those who produce should have, but we know that those who produce the most - that is, those who work hardest, and at the most difficult and most menial tasks, have the least.” Eugene Debbs - American Presidential Candidate who was jailed for his socialist viewpoints. - In America you are free to agree with the powers that be, otherwise if you don’t you are ridiculed, ignored, threatened or jailed.


At September 24, 2008 4:32 AM, Anonymous Anonymous said...

Bernie and Pat are calling for stipulations on a bailout. If you don't agree with the bailout, please go to:
http://sanders.senate.gov/comments/ and http://leahy.senate.gov/contact.cfm to tell our senators to vote no to it, in any way, shape, or form. The only way America is going to wake up, is with a shake up.
If you do agree with it, tell them that you do. Democracy is great, isn't it.

At September 24, 2008 6:19 AM, Blogger RobbKidd said...

Thanks whoever said that last comment. Yes, I was so focused on writing in support of Bernie's letter to Sec. Paulson, that I forgot to mention complete opposition to any bailout, which there may be many out there opposed. I for one, lean towards opposition, however I feel the momentum is towards a bailout and in reality what is needed is more restricted safeguards to prevent it from happening again- All in all, this is just proof that the FREE MARKET is a failure.


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