Friday, September 26, 2008

Laugh until you cry

Has anyone noticed that with this bailout plan for the Masters of the Universe currently being discussed, the responsible idea of setting up a tax to actually pay for this Christmas present for bankers hasn't even been considered. If taxpayers actually got a bill for it, or even a reduced service, there is no way in hell this plan would fly. By adding onto the incomprehensible debt, the impact is more abstract. Also much like the Iraq War cost, which has been put on the credit card entirely and is completely ignored in the budget process, this plan to wipe out the bills of banks that made high risk/high return loans to most anyone to buy or borrow against obviously overvalued assets, adds $2,300 in debt for every man, woman and child, but in reality the burden will be shifted once again onto the younger generation. What is so hilarious, if it weren't so sad, is that these same people scream and moan for deregulation, but as soon as times get bad, their tune changes. After 9/11, the airlines received hordes of corporate welfare, and they responded by charging passengers for a second piece of luggage or for that threat to mankind, water. This situation makes me ill. My friend Shelly, an erstwhile Mt. Carmel teacher and the embodiment of the word itinerant, has a great take on this issue in her blog.

As for something more pleasant, the town I live is opening a spring training facility for the Cleveland Indians. I don't know why they're doing this now, but tomorrow they're opening it up to residents and Hall of Famer Bob Feller will be there to talk baseball and meet the fans. That sounds pretty cool to me. I'll be there.

2 comments:

KAP said...

The Republican House alternate, which McCain is hinting he supports, includes tax breaks and less regulation.

Stranger than fiction.

I don't know how many of these banker buffoons you've been following, but it's common for them to say something like What's all this stuff worth?

Would you buy a used car on those terms?

The Saipan Blogger アンジェロ・ビラゴメズ said...

God bless America. Jesus is Lord.