Tuesday, November 4, 2008
The financial disaster occurring in America, and for that matter the world is the big train wreck that was waiting to happen. The country has been so involved in creating wealth no matter what the cost, that the public has been oblivious to the situation in Washington. Members of Congress have been so involved in their elite status, counting their stock wealth, taking those vacations furnished by lobbyist, and in essence ignoring their real jobs that America is now facing the greatest financial disaster in history. There was something outlawed 100 years ago called bucket shops that was apparently similar if not the same as what took place over the last few years. Apparently about 8 years ago Congress (Democrats & Republicans – this is not a party problem) allowed changes that once again gave free wheeling crooks the green light to rape the country and the citizens. These credit default swaps were the train wreck waiting to happen while members of Congress enjoyed the big life. Deregulation can be good in certain areas, but not where the financial health of America is concerned because there are just too many greedy jerks in the country and the world. Numerous individuals have become very wealthy at the expense of the country during this crisis. A good suggestion would be for all members of Congress, other than new members elected this year, to resign, forgo their big pensions, and get out of town! Congress continues to give themselves pay raises, but should cut their salaries to $95,000 and that would still be more that twice the average income in America of about $45,000. Their pensions should also be revised downward. The citizens should demand this action. The election on November 4th will not solve the problems of this great country and it is questionable if the taxpayer-financed bailout being conducted by the “great minds” in Washington will solve or even ease the financial crisis. One big question is how much of this money will actually return to the government and how much will the national debt increase for future generations.
Problems facing America today in regard to energy are enormous and it is way past time for the political leadership to address these issues and take action while keeping the environment in mind. Steps should be taken to make the country more independent by utilizing solar and wind along with putting the great scientific minds in America to work developing auto engines that are more efficient. I know engines that run more efficiently could be developed and adapters could be developed for older engines in order to increase their mileage rates. The oil and auto industries would have to take a large role in this effort and those industries may end up smaller, but the spin-off industries would make up for those losses. The many articles written about ways to increase mileage and about alternative fuels indicate it can be done, but the political establishment and corporate America are not taking the necessary action. Regulation of oil company profits could be a possibility in relation to reinvesting since this is a national and public interest matter. Billions and billions of taxpayer’s dollars are wasted each year on unnecessary and useless matters dreamed up by corrupt and self-centered politicians and members of the public that work with those politicians. Those billions could easily assist in solving the energy crisis. Congress approves billions that are wasted in other countries when citizens of all races in the U.S. are without homes or food. America needs to address problems at home in a more effective manner prior to pursuing the role as world police. The time is now for the American political establishment to change their spots and address the problems facing the country they are supposed to be serving and the citizens that pay their outrageous salaries and pensions.
Deregulation supporters say it has led to more efficient and innovative businesses, but others say it has led to higher prices and poor service. The move for deregulation really took off in the 70’s/80’s and this was supposed to bring great changes in industries such as airlines, banking, financial services, trucking, railroads, electricity suppliers, and telecommunications. The American public will have to determine if this effort by government representatives has produced the desired results in any of these industries or made matters worse or made any change at all. Have we had lost jobs, higher prices, fewer choices, and poor service? Is deregulation responsible in part for the economic conditions we face today? Are our political representatives asleep at the wheel? Should government be striving for a more balanced regulation situation? Yes, nobody can predict the exact outcome, but current conditions would seem to indicate things have gone wrong somewhere along the line. Maybe it is time to evaluate the results in certain areas and consider making some changes. Consider the numerous problems that have occurred in more than one industry over the last 20 years. A complete overhaul of deregulation might not be called for, but it is evident that some changes would be desirable.