Thinkin' Outloud

Folks, I have some bad news for you. Your president, your congress the FED, or anyone else cannot solve the credit crisis and the economic depression that we are entering into. Sorry, but that is just the way it is and let me tell you why.

Wall Street and our politicians shipped our industries overseas and brought us into the global economy with reckless abandon in the pursuit of short term profits and without hardly any analytical thought. They also allowed mortgage insurance companies like Fannie Mae, Freddie Mac, and AIG to abandon their primary purpose of assuring that loans made on homes meet basic sound financial criteria so as to prevent a meltdown in the mortgage industry and just allowed them to virtually do anything they wanted without one concern for the obvious long term damage being done.

These same folks, who are all in bed together, allowed our budget to explode with pork barrel spending and let our trade deficit and national dept rocket upwards which will come home to roost very soon which will certainly cause further ruin of our economy and society as we know it during this very depression we are entering. After all, why would anyone lend us more money when they question our ability to pay it back. Moody’s has already threatened to lower our bond rating and Kuwait, who holds $1.3 trillion of our debt and Saudi Arabia, who owns $700 Billion of our debt were expressing grave concern last year long before this current melt down.

Folks, the horses are already out of the Barn! We can’t undo any of this and these politicians even acting like they can is laughable. This is what I have been telling you for over the last year.

Now what do we do, you might be asking. Well, about all you can do is batten down the hatches and get ready for the roughest economic times in the history of the world---Much, much worse than the Great Depression of the 1930’s. The only thing I can think of is that we are now going to have to move towards putting our wages and benefits in line with other producing nations of the world, like China, India, Mexico and the others. I mean “Goodbye all benefits, retirement, and high wages”. Losing our investments is bad and will continue but perhaps the most difficult hurdles that we will face will be the insecurity and even terror of mass unemployment for over a decade until our unions, or politicians, and ourselves can begin to fathom the damage done by blindly jumping into the world economy backwards with our pants down and eyes closed. Only the hardest of times, and a real leader arising, will bring our masses to accept that we must work for unimaginably low wages with no health care or benefits if we are to survive and crawl out of this economic disaster and accept our new found third world status. Thanks a lot Wall Street and politicians-- you deserve to be hung up!

It is obvious that Russia, Iran, China, Venezuela, and some other nations sense that we are on the ropes and that our Achilles Heel is bare and we are going to be at our most venerable point in our history very soon as every day you see them asserting more and more military might and forming alliances with each other. I would expect our Arab “friends” are already poised to withhold refunding our national dept to strike one more crippling blow.

Sounds bad, doesn’t it? It is. And remember folks, it is now in our own laps---we are the government and those idiot politicians are nothing more than that---idiots who betrayed us.