Picture Notes

The Season that is…  Let the government bail out your company.

I found these at a cooking store, they are made from chocolate and it’s all I’m eating for Halloween while the US Government once again bails out the banking industry for their greed, or “drunkenness”.  I wonder how many times it will happen.  This looks like a major world-wide meltdown.  The 2nd Great Depression?  Only time will tell.  I wonder who would loose the most (which individuals) if these companies were allowed to finish their life cycle in the capitalist economy.  Instead we have socialism and we’re protecting people from some really bad investments, individuals who should have to pay the price for taking these kind of chances.

The government bail out made me think about Roosevelt and how he brought the US out of the great depression just a few years ago with legislation and regulation and most importantly, leadership.  Most of those regulations have been taken apart and there is no leadership in sight.   This depression will be how this administration will be remembered in the short term, in the long term we will only remember the leadership that comes along and puts the regulations back to the way they were in 1935.   Unfortunately, the guys “debating” last night, (it sounded more like a love fest with the phrase “my friend” being thrown out like they were at a country club) aren’t the ones that can do it, at least I have no confidence in either one.

There are well run, excellent companies who did not dip into the cookie jar of junk mortgages and even those good companies are being sold off right now.  I hope the people who created this “2nd great depression” are the ones who will pay the most but it looks like congress has already decided to protect them and make “The Average American” pay, so let’s just write a check and be done with it.  No, let’s pay with a credit card.   700 billion dollars divided by roughly 300 million people.   This was all predicted about 10 years ago.  The problem is that in our system credit creates wealth and when people start paying off their credit cards it creates real problems.

This entry was posted on Sunday, October 5th, 2008 at 11:28 am and is filed under business, giants, change, photography. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.