As the vast majority was in euphoria the day Barack Obama took the oath, the Stock Market went down. Wouldn’t you think that having a new President would have driven up the confidence level in the American people? After all, we trounced the Party that got us into so much trouble; there had just been two huge bailouts, one of which was to our financial institutions.Now we are finding out that the US Treasury spent $254 billion out of the $700 billion to purchase assets with a true value of only $176 billion. The government is scratching its head and it doesn’t know what to think about it all. Just ask for the money back. What about that?
We need to support business and banks that operate well with sound decisions; support success, not failure. Politicians and banks are robbing us blind. We all have been receiving notices from our banks and credit card companies about raising interest rates to unbelievable high amounts as banks lower interest rates on our deposits. Because of their horrendous mistakes and corruption, Joe Taxpayer is paying literally through the nose.
Obama is looking now to pass his Stimulus package. Nancy Pelosi recently said, “Change has to happen in terms of what is done — what the transparency of it is, what the accountability of it is,” she said. “Only then would we be able to pass any additional funding.”
We are in a global war and we can not afford to waste one more American dollar on any business that can’t compete. No more bailouts for losers. No more bailouts for anyone who bought a house that they knew they could not afford. Let’s go back to the basics and award those who manage well, business and consumer alike. Award achievement, not for screwing up…award that business that is operating honestly…do not give 10% raises for doing what you’re paid to do anyway…no awards for bungling the job. This is how it used to be in this country. We are falling more and more into this “entitlement” socialistic mentality here and this has bred corruption to the point of me, along with others, wondering whether we will recover.
19 days is not a lot of time to change things but I can’t see anything different in the direction we are taking. The Stock Market rises on confidence…when businesses are doing well, people invest in them. Right now there is a significant segment of American business depending on bailout money with a government willing to dole out billions with no guarantees that these companies will do any better than they have in the past.
Obama told us it would get worse before it got better, the typical disclaimer. Is the situation just too complex for anyone to solve? Are we grasping at straws? It’s enough to make a grown person cry.
Obama told us it would get worse before it got better, the typical disclaimer. Is the situation just too complex for anyone to solve? Are we grasping at straws? It’s enough to make a grown person cry.
