No matter who is in the White House come January, catastrophe looms. It may very well be that this economic cancer is so widespread, that no President will be able to excise it.
Several generations ago, our parents and grandparents had to deal with the realities of Depression living. Banks failed. Businesses went belly up. People lost houses, farms, and jobs.
Wall Street big wigs lost their minds, often committing suicide rather than deal with the disgrace of financial failure and bankruptcy. The trail of slime coming out of the nation’s capital continues to smother markets, taint policy and create a general atmosphere of uncertainty, mistrust and fear, as supposed experts scratch their heads in confusion, unable to reassure an increasingly skeptical public of the strength of the nation’s banks, economy and status as a world power.
Not everyone is swigging Bush cool aid, even those within the Bush administration. There are a whole lot of skeptics out there, many of them no longer to be good soldiers and keep their mouths shut and follow the party line.
One administration official says that when it comes to dealing with the realities of this economic meltdown, Bush and Company are looking at the wrong end of the horse. “… we're attacking it at the institution level as opposed to the borrower level, and it's the borrowers defaulting." (Ibid)
And that essentially has been the problem with this administration all along. They have been looking at the world through an institutional lens, when it is the small business owner and household which comprise the economic engine of this country.
The small business owner cumulatively, contributes more jobs and economic fuel to this economy than “big business.” It is the individual whose spending keeps the wheels of the economy greased with their spending and consumption.
The consumer buys the cars, clothing, food, houses and condos, which fuel the nation’s economic engine. The consumer provides the labor, builds the houses, staffs the factories and buys the real estate, which create jobs, generates economic growth and builds on previous economic growth or contraction.
Despite the Big Business bias, which continues to drive the Bush administration, small business, family farmers and consumers remain the cornerstone of this economy. Unfortunately, as long as the administration remains preoccupied with infusing Wall Street with cash, credit and confidence, instead of providing at risk homeowners support, the consequences of these misdirected, uneven polices will be felt for generations to come.
Thousands have already lost homes, jobs, and investments. Experts say 2009 will be the banner year for economic meltdown. Millions of home mortgages will rise catastrophically, generating a fiscal tsunami, which will require years of recovery.
With trillions of dollars, millions of homes and jobs at stake, this is the worse possible time for partisan bickering and political posturing. We need policy substance, fiscal relief and realistic solutions to actual problems.
Somebody needs to step up to the plate and present some solutions—regardless of how unpopular they might be. And, if it takes breaking ranks with the crowd, have at it.
Several generations ago, our parents and grandparents had to deal with the realities of Depression living. Banks failed. Businesses went belly up. People lost houses, farms, and jobs.
Wall Street big wigs lost their minds, often committing suicide rather than deal with the disgrace of financial failure and bankruptcy. The trail of slime coming out of the nation’s capital continues to smother markets, taint policy and create a general atmosphere of uncertainty, mistrust and fear, as supposed experts scratch their heads in confusion, unable to reassure an increasingly skeptical public of the strength of the nation’s banks, economy and status as a world power.
Not everyone is swigging Bush cool aid, even those within the Bush administration. There are a whole lot of skeptics out there, many of them no longer to be good soldiers and keep their mouths shut and follow the party line.
And that essentially has been the problem with this administration all along. They have been looking at the world through an institutional lens, when it is the small business owner and household which comprise the economic engine of this country.
The small business owner cumulatively, contributes more jobs and economic fuel to this economy than “big business.” It is the individual whose spending keeps the wheels of the economy greased with their spending and consumption.
The consumer buys the cars, clothing, food, houses and condos, which fuel the nation’s economic engine. The consumer provides the labor, builds the houses, staffs the factories and buys the real estate, which create jobs, generates economic growth and builds on previous economic growth or contraction.
Despite the Big Business bias, which continues to drive the Bush administration, small business, family farmers and consumers remain the cornerstone of this economy. Unfortunately, as long as the administration remains preoccupied with infusing Wall Street with cash, credit and confidence, instead of providing at risk homeowners support, the consequences of these misdirected, uneven polices will be felt for generations to come.
Thousands have already lost homes, jobs, and investments. Experts say 2009 will be the banner year for economic meltdown. Millions of home mortgages will rise catastrophically, generating a fiscal tsunami, which will require years of recovery.
With trillions of dollars, millions of homes and jobs at stake, this is the worse possible time for partisan bickering and political posturing. We need policy substance, fiscal relief and realistic solutions to actual problems.
Somebody needs to step up to the plate and present some solutions—regardless of how unpopular they might be. And, if it takes breaking ranks with the crowd, have at it.
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