So okay, another major election is over and Christmas has now surpassed the point-of-no-return and one should ask their friends and family members, are we feeling good? The word “good” these days should be replaced with something like, “Are we there, yet?” Okay, that doesn’t quite cut it but in this day and age, what is good for one side seems to not be good for the other side.
What am I speaking of? Corporate and financial industry bailouts.
Everyone seems to be receiving bailouts except for the American consumer, you know, the people who actually economically heat the nation to prosperity.
Why is it that we the legitimate taxpayers are not being helped? Well the simple answer is politicians who know how to spend your money better than you do. Yes, money the root of prosperity and of evil that flip-flop like a live bass hitting the frying pan dead-on with its mouth open.
The bailout for the financial empire is an absolute disgrace. What stone is this written on to bailout banks? These banks control many aspects of our lives and yet, because of greed and liberal stupidity, this seems to be okay as long as the people are dumb enough to accept this as the new thing of the 21st Century.
Where is the consumer bailout? Oh, the Obama team and the liberals in Congress speak of another stimulus package and for what? What will that do for us, the American people? The so-called bailouts for the financial industry and any other company who cannot convince labor unions that their own jobs are on the line will do little for the American people. Unless the American people get a real bailout, the next big financial fall will be the people who have no money spend.
Nearly $2 trillion dollars have been or will be spent on this corporate bailout and that is just the tip of the iceberg. However, if that $2 trillion dollars were given to the legitimate taxpayers of lets say 200 million people, which would come to $10000 per person tax-free. Yes, $10000 per person which would mean, some households would get $20000 tax free combined with a two-income family.
In a perfect world, if all of that money was spent on individual consumer debt minus mortgages that would free up cash for Americans to spend and dramatically sink the overall unsecured debt that Americans now hold. But, how would this work?
First of all, when consumers have no income to spend, then the corporate bailouts really serve no overall purpose. And second, no money spent by consumers, no jobs are created and businesses will either fail or layoff more workers.
When consumers spend, the tax collections go up, workers get hired and the economy begins to build. Consumers create ¾ of the economy output and yet, all of bailout money is going to the financial industry who were stupid enough to take on sub-prime mortgages, use loans that no one ever heard of or peeled out loans that were reserved for certain types of financial lending. The adage “Stuck on Stupid” fits the financial industry as well as the dimwits in Congress.
Nevertheless, as I stated before, in a perfect world, this consumer economic bailout would go a lot further than what is being done now. But then again, some people will take that money and buy sports cars or 52 inch televisions.
Am I off the mark on this concept? Well maybe but one only has to look at a government full of lawyers and financial MBA whizzes at the helm of America’s financial machines and say that my concept cannot be any worse.
However, the American way of personal irresponsibility will rule the day once again.
That is where the our economic funk will rest its soul, in our own pocketbooks.