A favorite country song lyric stated that Cleopatra was the queen of de-Nile! Stretched to denial! You get he picture. It appears that if she were around today she would not be floating on a boat up and down the famed river, but in fact heading to her high tower office on Wall Street and be quite surprised to see she is suddenly unemployed!
More than one pundit, columnist and blogger is having a head scratching moment today trying to figure out what is going on with our financial system. My local conservative friends and yes I do talk to the other side on occasion, lay the blame firmly in the hands of the borrowers. “It’s all the fault of them bums that borrowed money and didn’t pay it back!” “That’s them Democrats for you, giving money to everyone, even the ones that can’t affords it! Oh to lay the blame on just one thing, we should be so lucky!
When I bring up the fact that the problems go way back to the Regan days and that the fault lies with deregulation, their eyes glaze over. Just the mention of Saint Regan and the days of trickle down economics can make them feel better. Who can ever forget the idea that if we give all the breaks to the richer of us, it will somehow trickle down to the rest. History if anything will prove that one to be one of the biggest whoppers the man on the street ever tried to digest.
Our erstwhile candidates on the road are really in for a borage of questions today about the economy. Try as both parties have been to steer the conversation to lesser hot topics. The McCain group is saying we need to reform Washington, and get people in charge that can make better decisions. That kind of thinking which sought to bring brain power from the public without government oversight got us into this mess. The day we let investment houses become bankers with the full credit and backing of the US government, the writing went up on the wall for this crisis. The Obama campaign would launch full scale investigations into what caused the problem, and then bring in the people from the very group that caused the problem to devise a plan to solve it. None of us should be very encouraged by either’s proposal to solve the financial crisis. Regardless of who gets elected, its going to be really drawn out process getting back on our feet. If you are in the middle class or poor, you may consider buying a walker or wheelchair for this one!
Its no secret that those with less as stake in the game of economics meaning those who don’t have a lot of money in the bank in the first place will be last to get any serious attention. On the bight side, next week the new fall schedule will appear magically on television and after all isn’t that where any truly good citizen finds his happiness! Not in talking about all that money stuff, we couldn’t possibly understand. If Bush comes on the TV tonight and tell us all to go shopping to help things get back to normal you will all know how really bad things are.
By the way only 126 days left, unless of course McCain gets elected; then all bets are off!