Tuesday, September 30, 2008
After the stinking corpse is buried.
Pardon me, folks, if I laugh. Because I think that's a better option than crying. I'm watching the state of the American economy and the state of the American political system. They're both in a state of collapse. Some say it's a double tragedy. But I choose to look at it as comedy. Nobody knows what to do about it. Everybody is running around in a state of panic. Yelling. The sky is falling. And it may be. That's funny. A little like the guy that slips on a banana peel. Laughing at someone that gets hurt. We're all getting hurt. Because we don't know what to do. Except me. I know what to do. To bury capitalism once and for all. And go in a socialist direction. But that won't happen until after the funeral. After the stinking corpse is buried. --Jim Broede
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Jim---The proposed ‘bail out’ bothers me. There just is not enough oversight. This soon to be no longer member of the middle class lady smells a rat in the woodpile. The stench is telling me that some of McCain’s “supposedly middle class” taxpayers earning 5 million dollars a year want me to help pick up their tab. They have not trickled anything my way. As far as I am concerned they deserve to do without the help of my bucket.
Take the ‘no exceedingly high wages and no golden parachute’ guarantees. It does not say that they will not be tolerated. From what I understand it just limits the ability of the institutions to claim a tax write of for them. Well...Pardon me...To me that means that those institutions will some way or another (through fees and such) to pass the non deductible costs on to normal consumers and taxpayers.
A good percentage of my money is tied up in bank accounts and securities of some kind or other. If there is a economic failure...I’ll probably take as much of a bath as anyone else if I liquidate. If I liquidate are the important words.
In Monday’s big sell off, the people that sold were the only ones that lost money. Those who held are sitting a whole lot better today.
In the 1929 stock market crash not all banks closed and everyone did not lose all they money they had deposited. One of the ones that managed to stay open was People’s Bank of NC. I don’t know what happened to make it possible...but...My guess is that the major depositors might have been a group good old southern boys who decided that they trusted their local bankers enough to not make a run on the bank. Their faith was rewarded.
Since hurricane Ike there has been a severe gas shortage in my area of NC. Many stations have no gas and there are lines at the ones that do. After limiting my driving for over 2 weeks, my gas gauge was nearly registering empty. With luck I found gas at a local station and took my place in line. From that vantage point I watched person after person ignore a posted voluntary limit of 10 gallons and fill up their vehicles and additional approved containers. After pumping my 10 gallons of gas, I drove away thinking that there would be no shortage of gas if everyone pumped the allotted amount of gas when it was actually needed..
One of the main problems with this country right now is that most people want the whole pie instead of acting responsibly and mannerly and settling for a small portion.
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