Sunday, June 28, 2009

Corporate Deregulation - Smell that Char-grilled Aroma

...But that char grilled taste of deregulated beef just may make you sick; just another value of free market deregulation many are so fond.

Today it is the beef industry with notable outbreaks of E.coli. When will we realize that allowing corporations to regulate themselves is not a good idea? Corporations are creating more sick people for the insurance agents to make more money off illness. It's all about corporate greed-take short cuts in food safety to make more corporate profit and let the sick people give greater profit to insurance companies. It's a vicious cycle at the average Americans' expense.

Here’s the thing America-so many are promoting the reduction of government to put power in the hands of the free market and corporations, but look at what’s happening. Food companies are taking short cuts in food safety at consumer expense for profit, which is in turn is making people sick and making more money for insurance companies. We, the American public are a tool for big business to make a profit. And we wonder why we have a health care crisis in this country.

What is most interesting is; suddenly when stuff like this happens who do many blame-The current administration. Why hasn’t President Obama done anything? Well it was President Bush who ruined the FDA, because big government is bad and big business is oh so good. Now many are crying for President Obama and the government to do something. Which is it? Do you want to be rough-ridden by corporations or do you want ht helping hand of our government? You simply cannot have it both ways; you can’t complain about government intervention one moment and then blame them for something that is not their fault another time. The excuses and rationalizations are not becoming of a nation.

First we have to understand the problem-Greed. It is incessant and is ruining many lives. We Americans have to ask ourselves do we want to be at the mercy of corporations and their profits. I don’t .

Friday, June 26, 2009

The Constitution - For the People, Of the People

You know what’s funny? Nowhere in the constitution does it say, “For the Corporations of the Corporations,” but somehow the corporations seem to have a louder voice and more rights than average Americans. Wow, we don’t get to have off shore bank accounts to avoid paying taxes. That is a crime for the average American citizen. If our actions kill another, we are arrested, but corporations can kill American soldiers in Iraq and avoid citation. We can’t police ourselves like corporations can regulate themselves. Crazy huh?

The latest battle is health care and the biggest argument is too much government, regardless that 70% of the population wants health care reform. Who cares about the people? We don’t matter. It is what is good for the corporations that matter. Yes, we have to worry about the profit of insurance companies and pad the pockets of overpaid doctors. Yes, I am positive that is what our forefathers anticipated when writing our constitution.

Yesterday’s blog I dabbled with the idea of hypocrisy, but there are no greater hypocrites than politician’s who campaign for less government. Politicians are paid by the government through American taxes. They are taking money for doing something they say they despise. If they felt government intervention is bad, then get out of politics. If you are a politician who promotes downsizing government, you do not belong in government. Crazy, why get a government job if you hate government? Save that career path for those who care about American citizens.

Where did the inspiration for many politicians to promote anti-government. Check out this quote from Grover Norquist, the think tank of Ronald Regan. "My goal is to cut government in half in twenty-five years, to get it down to the size where we can drown it in the bathtub". Now if our government is drowned in the bath tub, what is left? That would be anarchy and lawlessness. And what has anarchy and lawlessness got us to date-well self-regulated corporations nearly toppled our economy in their greed. They have exploited citizens with credit and bad loans. They have turned dying people to the streets. That’s a good idea, put our health care in the hands of people who want to only to get rich. It is sick to make a profit on illness.

Perhaps instead of listening to the likes of Grover Norquist we should heed the words of great Presidents like Republican Teddy Roosevelt. "Let the watchwords of all our people be the old familiar watchwords of honesty, decency, fair-dealing, and commonsense."... "We must treat each man on his worth and merits as a man. We must see that each is given a square deal, because he is entitled to no more and should receive no less.""The welfare of each of us is dependent fundamentally upon the welfare of all of us."

Thursday, June 25, 2009

Mark Sanford - A Lesson of Hypocrisy

On a basic human level, I have sympathy and even empathy for Mark Sanford. It is fully understandable for human beings to fall in love and to act upon their feelings. That is human nature. And my respects go out to his wife and children. However, Mark Sanford has made a career promoting the sanctity of marriage and family values. He has highly criticized and called for the impeachment of other politicians for similar indiscretions-President Clinton. Now he has found himself guilty of the same indiscretion and thus has become a hypocrite.

Hypocrisy, I feel is too often dismissed, when in fact we should feel shame for our hypocrisy. If “Thou shalt not judge” is one of the ten commandments, and hypocrisy is judgment and then committing the same indiscretion-well then you could imagine the “sin” for lack of better word. But I see hypocrisy is running amuck these days with lying, excuses, blaming and denials. If we cannot be in control of our own behavior how is it possible to judge another?

But hypocrisy is not just in family values, we judge others in every facet of our lives. Over the weekend, I read comments about the economy criticizing the “President Obama and the intellectual elites” for standing up for “stupid people.” Figure that one out. Yes, folks were snubbing legislation to make financial fine print easier to understand. I believe that to be elitism and hypocrisy.

What does it say for a nation of hypocrites? What does it say about us when all we can do is judge and criticize one another and even more detrimental anonymously through the internet? Yes, it is easier to be judgment and criticize when people do not know your true identity. It’s not only easy, it’s cowardly. The danger in judgment and criticism is you never know when one day you may be faced with adversity, the same adversity you once judged another. I see so many judging the unemployed (during a recession no less), but what happens when these same people lose their jobs? Be careful.

As Mark Sanford said, “He is a bottom line kinda guy,” and I guess I’m a bottom line kinda gal. Here is my bottom line-acceptance and tolerance. I could accept and tolerate Mark Sanford’s infidelity, but the real issue here is that he failed in his oath of governor of the state of South Carolina, when he left without telling anyone where he was going. It is a question of irresponsibility, not infidelity. He is the governor of a state for crying out loud! And when you place yourself in the public eye, whether it be a celebrity, professional athlete, rockstar or politician-different rules apply.

Look, we are all human. We all at times in our live faced adversity. It’s not our indiscretions we should be judged upon it is how we deal with our indiscretions. It is more irreprehensible if we lie, blame, point fingers, rant and rave than if we are honest and accept our shortcomings. We all have them. We should learn the lesson of not only accepting the shortcomings of others, but ourselves.

Sunday, June 21, 2009

Money-Is America Splitsville


Money, it is the number one cause of divorce in marriage and in reading comments to yesterday’s article about President Obama taking on the financial crisis it was evident that emotions are highly agitated and the nation is divided. Is American heading for a divorce with itself? Calling Doctor Phil, America needs you.

Like in a marriage when couples squabble over money usual problems occur; one over spends, while the other in the marriage wants to skimp and save. This is evident today in the country with credit cards. Some have found their way into credit card debt others pay in full. Others like to live life to the fullest careless of money and finances, others live life by their check books. Other money problems result due financial crisis ironically like car troubles, health care emergencies and unemployment. All this leads to financial strife in a marriage and a nation. How do many cope? Split?

One of the first things Doctor Phil might ask, “Do you still love your spouse?” So I ask this question, do we still love America? If we have answered yes that question we are off to a good start. Are you willing to make the relationship work? Yes, okay then follow me to the next paragraph.

The next question I believe Doctor Phil might ask America is what do you value most; money or people? Some no doubt value money above all things. Some like to roll around in money and rub it all over their naked bodies before going to sleep. Money is the best mistress and it really is hard to break that affair, but if you value your family, marriage and country you may just need to end it. Others like me value life and people; in fact I sometimes value it too much a bill may be paid late. For some, honestly life is about a stock portfolio, zero credit card balance or a perfectly balanced check book. For some, life is about living, but then for us folks sometimes a dose of reality does us good. What we need to do is appreciate and understand ourselves and each other. Can we do this? If so, let’s move along.

If someone in your family has money problems, or trouble handling money what is your reaction; kick them to the streets, offer handouts, or do you give them support and counseling? This was the main argument yesterday against President Obama calling for financial reform-throw all Americans who don’t read the fine print to the streets. One person even mocked my comment saying, “Should we help all those who walk with a cane-financially speaking?” Why uhm yes. We do make ramps for the handicap that cannot use the stairs right; so we should make it easier for all people to understand financial contracts. Honestly, I’d like to split with that particular person. That’s not very neighborly American-Mister Idaho. But I digress-onward.

How do we handle a financial crisis in our own home? Many get caught up in bickering, arguing tossing out false prides and accusations. But does that solve the problem? Is getting angry and crying foul to another the solution? I don’t think so, do you?

The answer is analyzing the problems, regulating bad behaviors and finding new saving solutions. This change may be uncomfortable and even scary, but if we value America and the relationship with have with one another, perhaps we should be open-minded to help find solutions that work for all and realize that sometimes in our past relationships our methods of managing finances have been destructive and caused chaos and crises.

Saturday, June 20, 2009

President Obama Puts up Dukes against Financial Critics

I was reading an article on Yahoo. What is most interesting to me is not the article itself but reading all the obvious "right wing" comments. Their main argument about President Obama cracking down on big business is, “Buyer Beware-Why should our government support stupid people.” My comment was, “Whatever happened to “the customer is always right, and good old-fashioned customer service.” What is being served are consumer asses on the silver platters of rich CEO’s.

Even in the article President Obama said he would be willing to listen to arguments if they are intellectual and of good faith. Article commenter #1 proved Obama’s example if your argument against overhauling our finance industry because the average person is stupid. What kind of person argues not to have legislation for consumers because they are not smart enough to understand the double talk of the fine print? We need to do away with that kind of talk. Thank you Westmass50, you just proved Obama’s point. And hey Westmass50, stupid people deserve the same rights as the rest. Don’t you find it ironic, as many claim “elitism” when it comes to the Democrats and Obama, but then these same people do not want to help the average consumer because they are “stupid?” Interesting huh? Smell the hypocrisy folks.

But what many are failing to recognize is Reagan’s deregulation of big business got us into this trouble (You know-Voo-Doo economics). How wonderful all of you to come out and support an economic strategy described as "Voo-Doo". That's smart. To all those criticizing Obama and the government - Let me ask you. Would you rather "corporations" run our country who regulate themselves (Food industry-why Nestle just yesterday had to recall food), KBR is killing soldiers in Iraq, many corporations are evading taxes making the citizens flip the bill. Do you seriously want to put the nation in the hands of greedy CEO's? Do you seriously want this country to be run by CEO's who are only intent to make a profit on American citizens? Seriously, people that is stupid and naive? Corporate CEO's care so much less for the American public then our elected officials, yet so many of you are treating them like gods. I’m actually embarrassed for you.

We (in a democracy) elect a government to "serve and protect". That is what our government is doing-finally. Finally, they are sticking up for the Average Joe. Ironic, since that was the main talking point of McCain and Palin-yet in reality they are standing up for rich CEO.

It is not however the government, it’s the people of this country and our lack of support for one another’s rights. Sadly, I don’t think we can be called “United” States anymore because we are certainly so divided. Why, why would an American citizen deny benefits to be granted to another American citizen? Why can’t we see the leveling the playing field for the entire nation is good? Are we truly that selfish and that self-centered that sticking up for someone else will destroy our livelihood? I hardly find that a true American quality. Our forefathers would be so disappointed in us.

Friday, June 19, 2009

Is Politics Worth Dying For?

It is the first question I asked myself after reading Iran’s Ayatollah announcement, professing violence to all those who continue to protest in the streets of Tehran. What would I do in such a case if I felt my vote was counted and my rights rejected? Would I confront violence and possibly death for the sake of democracy, or would I just follow along with current government policies?

I was one who protested the initial election of George Bush in 2000, when it appeared Al Gore, who had won the popular vote should be president. After the announcement came that George Bush was president, I accepted the Supreme court’s decision and thought to myself, “It is only four, or even eight years-what harm could he do?” I became a passive objector and went about my business.

Ironically, after doing research for another book on World War II, I saw similar quotes from Germans in the early 1930’s after Adolf Hitler “won” an election by a 99% margin. Many said, “What harm could Hitler do?” Well, hindsight is always twenty, twenty. Hm, many said about Adolf Hitler, what I thought about George Bush-interesting. Fortunately, for America we remained a democracy and not a tyrannical dictatorship such as Nazi Germany. But then the Bush administration broke the Geneva Convention in torturing prisoners of war.

Seriously, Americans have no idea what a tyrannical dictatorship is like. We are not arrested from our homes in the middle of the nights because of our religion, lifestyle or political ideologies. We are so fortunate to be able to speak our minds and speak so negatively of our nation and fellow citizens without fear of severe government retaliation. In fact, I believe we take our freedom to a frightening extreme. I believe we should have much more respect for our freedom and treat others in our country with respect.

Why this is so interesting today, is that some in this country are rebelling and protesting against President Obama and that he threatens to take away American’s freedoms. Personally, I feel that ideology is seriously flawed, but many feel strongly and have no doubt violent thoughts of rebellion. When do we draw arms against the government when we sense injustice? What is the line to which we lay down our own lives for freedom? What causes to we promote and propagate revolution? I believe the answers to these questions should be made with the utmost care and certainty before action. The results could prove disastrous.

Today my heart goes out for the Iranian people. I am greatly impressed by their courage and conviction in the quest for freedom. I wish them peace and freedom and I sincerely wish no bloodshed upon them. Despite the outcome, the Iranian people have been an inspiration of faith and hope to everyone throughout the world. Good luck to them.

Friday, June 12, 2009

"How to Profit from Credit Cards"


Wow! That was my immediate response after breezing through creditrating.com forum. Now, I’m happy people have found ways to milk the credit system, but in today’s economic climate, maybe it’s just me-maybe I am the only person in American who truly thinks it takes some rather large and heavy brass cahoneys to promote profiting from credit cards.

I think by now many of us have heard about the credit card legislation that has passed through congress and the regulations that are eventually going to be placed on credit issuers. This has come through years of over-charging interest rates, changing billing cycles and fees at their whims on people who are already burdened in debt. And especially now, when unemployment is still going to surge, our economy is still in a precarious situation and people are penny-pinching to feed their families. And some promote how to work the system in order to get rich of credit cards. Wow! It’s really all I can say.

I’m not sure what strikes the biggest nerve; the selfishness and greed or the fact we’re still not getting it. It is this kind of get-rich quick schemes and earning a buck by pushing paper and turning credits that got our country into this economic quagmire. Even after the economy has stabled after the near collapse last October, we simply cannot go back to the same practices and financial ideology that has gotten us into this situation. We simply can’t make profit from nothing any more. We are not only de-valuing money, we are devaluing our society.

Many in the credit industry criticize consumers for over-spending and irresponsibility with credit card use. To me, using credit cards as a means of profit is highly irresponsible and downright dangerous. And it is these people, who make money off credit issuers who make it bad for the people struggling in debt.

We need to understand that when we talk financial responsibility that goes for all; consumers, creditors, corporations and our government. We simply cannot profit off other’s debts and call it good and responsible. We need to call it what is-greed….and it’s not good.

Thursday, June 11, 2009

Wednesday, June 10, 2009

American Politics - The Bickering Bickersons

Gosh, honestly I don’t know where to start…but I guess Newt Gingrich is the appropriate person. So there are just a couple points I need to make in regards to the most recent Republican conference. You can’t charge the president of failing after only five months in office, especially when President Obama has done more than most presidents have in their full term, not to mention how badly President Bush screwed up this country and Obama needs to fix it. There said!

Honestly folks; Gingrich is a politician who aspires to be president himself one day. Everything that comes out of his mouth is hogwash and propaganda to sell us his shtick. Many of these politicians and media personalities care very little for you and I. They care for their careers. Let’s not be naïve.

But the most mind boggling thing that came out of Gingrich’s mouth was the fact that he does not believe, nor want America to be a “global” nation. Oh the horrors, America learning to get along with our neighbors. Oh, the terror of Obama trying to find peace with terrorists. God forbid us interjecting understanding and “Empathy” into our foreign policy. Some are tossing around the word “Empathy” like it is “Socialism.” When did empathy become a negative human trait, but then we are still promoting greed like it is the stairway to heaven. Can our priorities be any more messed up?

As Gingrich and republicans want to not only maintain the status quo, they are leading us backwards into a time of darkness. See this video below and watch why it is impossible we cannot be a global nation. If we follow Gingrich’s advice, not only will we not be a global nation, we will join the rank of 3rd world nations.



The world is changing, technologies are rapidly expanding we can either get on board, or stay behind. But know this, if we stay behind and wallow in what “used to be” other nations will become global powers and the United States will become a washed up has been. We are great risk of falling deeper behind if we do not stop this bickering and unite for the common good. United we move forward, divided we fall. That is our choice. I vote for unity.

Friday, June 5, 2009

Message to "Conservative Capitalists"

Uhm…you screwed up our economy of the last eight years.

This message is in regards to a comment I read about the recession and unemployment rate, “Socialist Liberals are going to destroy the economy.” My comment is simple, the “socialist liberals” did not destroy the economy of the past eight years-that gold medal goes to the conservative capitalists.

Our stock market plunged during Bush’s reign of economic terror and it was Bush who famously started the “socialists” bail outs. You see the thing is the "socialist liberals" needed to step into save us from the economic quagmire the conservatives started. I mean, really…can anyone get their facts straight.

Further more, I’d like to comment to all those who toss around the word socialist without ever taking an economics class; we already are a “socialist” nation. What do we benefit in this socialist nation? Well for one, our military is funded by the government through our tax dollars making our military the benefit of socialism. Welfare, social security and education are also “socialist” programs.

The conservative capitalist approach to economics nearly brought down the world economy and we are being bailed out by a Communist country. (Talk about socialism, we are owned by a socialist country-China) Most European nations operate on a “socialist democracy” and their economies are stronger than the United States and we are responsible for their failing economies. So before you get on your soap box and declare the end of socialism and liberals-perhaps you should open your eyes and mind and realize you’re owned by a socialist country.

I am a firm believer that there is a happy medium between capitalism and socialism. That middle ground will be an economic utopia. We have seen before that pure socialism can be bad, and as we have seen over the past eight years with Bush, capitalism run amuck is dangerous. I feel anyone with any common sense and any knowledge of economics will understand.

But we’re not dealing here with common sense, we’re dealing with emotions. We are dealing with bitterness that a democrat is in the White house and has to save the economy from a past republican. Pride has been shattered for many. Personal greed is many people’s motive without care or consideration for fellow Americans. This is what we are battling today, not socialism. Socialism cannot hurt us, but greed can destroy us.

Thursday, June 4, 2009

A "Credited" Nation

Funny word, “credit,” it is a word whose meaning is trust and confidence. As much as the word credit is used, how much trust and confidence do we have in our economy, government and media; credit cards not withstanding?

Everyday we lose confidence in our economy. Daily we read about businesses closing and more layoffs, yet many are still trying to make a fast buck off the unemployed and unfortunate. Frightening that our economic structure is based on consumerism, but what happens down when consumers are not spending? How detrimental could that be to our economy and when will we realize we may need a stronger foundation for an economy?

Today credit is known mostly by a little plastic card, we Americans are obliged to carry. If we do not, we cannot be scored and therefore run the risk of not being able to buy a house or get a job. Corporations have created a credit service and regulated a credit system in which we all must use, and we are judged and graded on how we apply. There is not much need for big brother in our government, when the corporations are filling that job quite well.

Yet with all the challenges with our economy, our country and our government are bitterly divided and many are promoting divisive ideologies that promote an even greater rift between peoples. For politicians who have in the past lied, should we give them credit? In such trying times, should the goal be to promote a national unity?

But then we have the media whom is no doubt guided in their broadcasts by political ideologies and corporate sponsors. Our news has become less news worthy and more so entertainment. Despite the fact that most anchors are glorified “news commentators,” should we give the media any credibility when truths are being misled and twisted?

There was a great time in America’s history when we had a lot of credit with the rest of the world. We were looked upon as the good guys that stood up for injustices, not it seems it is our government that is promoting injustice. There was a time when we were an economic leader, now we have sold our soul to countries whose political structures were once our nemesis (communism). Worst of all we are a divided nation with greater intention to tear each other apart instead of unifying? Nations divided can never be successful and can never achieve greatness.

I guess the underlying issues to people really care about credibility in our economy, nation and media, or are we content knowing our own personal issues and agendas are fulfilled no matter how they affect others?

Wednesday, June 3, 2009

"Traditional Moral Values"


I have put the title of this blog in quotes, because I am uncertain these days of the definition. Comments have been made on my blog, and I see many comments and television commentators promoting the same-but what are these values they are promoting?

I was asked yesterday, to pick one historical figure in which I could identify. Who was my historic hero? Without much thought I spouted out Galileo, who was just recently pardon by the Vatican for his innovated philosophy of the 1600’s. Yes it took the Catholic Church almost 400 years to catch up with Galileo. At the time, Galileo was sent into exile and shunned from Catholic society. The teachings and writings of Galileo give us insight today; a great man of genius plunged into darkness by a repressive church. What would our society be like today if Galileo were allowed to pursue his teachings? The mind could only wonder.

Many who shed such an intellectual light over our world are discarded, shunned, exiled and even murdered for the sake of morality and values. Can this be considered virtuous and moral? Can the shunning of another’s ideas be considered a value? Is killing someone because you don’t believe in their causes be considered moral? And can the denial of one’s civil liberty and the pursuit of happiness be valued? Who determines these moral values and how can they be moral if they involve fear, prejudice, bigotry and hate? Shouldn’t kindness, tolerance and acceptance be a traditional moral value?

Sadly today, to these folks of traditional moral values – Empathy is discarded. Apparently, empathy is not a value. How can a people who discard empathy consider them virtuous? But ironically, the same people criticizing empathy as a means of judging are the very same people who want to place legislation for their moral values; stem cell research and abortion. You can’t deny someone to the Supreme Court because they have empathy, and then promote your sense of “morality” as law. It is just hypocritical. If we value morality, then we defiantly need to value empathy. The two kind of go hand in hand-or at least should.

In thinking about this, this morning, I thought of America’s traditional moral values. Traditionally, the United States was founded on freedom; freedom of religion, freedom of expression and freedom in the pursuit of happiness. It is these reasons why so many fled oppression. People from around the world came to America not to be judged so harshly and condemned; yet today I see judgment and condemnations being shouted loudly by those who promote traditional values. Today in our country, I see oppression, the very oppression many have fled over 200 years ago. I find these values more archaic then I do traditional. If you’re condemning someone’s religion, liberties, etc you are being oppressive and that is not our traditional American value. Remember, America is the home of the free and that freedom belongs to everyone.

Tuesday, June 2, 2009

Got the Credit Card Blues


Well, just check your email, because you will find a dozen spam emails pimping credit cards. Wait, didn’t our government just pass stiffer credit card legislation? How come all of a sudden I am being spammed for numerous credit card offers? I hate spam!


I’ve asked this question before, who sends these emails. The answer as per first premier bank says, “One of our marketing partners.” It is secret spy marketing partner that spies on our emails and our surfing the internet and then sends us spam. Ironically, I am flooded with credit card email solicitations because I research credit to expose exploitations-and they keep giving me more content. So really in that regards, I can’t complain.


Also, going back to yesterday’s blog in regards to our consumer based economy and over 40% of population is in the financial services industry, I had to stop and think of all the people who were getting paid money to send these solicitations and spam. Someone was paid to write the advertisement copy. Someone was paid to design the graphics of the email and most certainly someone was paid to enter a data base of email lists to send to potential consumers. Could we not think of anything better to do with our recourses and money then create credit card email spam?


But some of these spammers were kind enough to leave a calling card-one was Netspend. Surprising this company has won awards for selling credit. Huh, didn’t know they gave awards to selling credit cards? They can’t be that great, or else they wouldn’t be spamming me.


Then there was Impulse marketing group, in which you can read hear the law suit filed against them for unlawful credit practice. This just proved my point; depraved people only out to make money of the misfortunate are soliciting credit cards. I didn’t have to do much research to learn that.


So here’s my question, anyone with any common sense has realized credit card spending needs to be done so with much more responsibility, so why are they flooding my email for offers? Back to my point in yesterday’s blog that the majority of industry is the financial services industry. Of course there are thousands of “financial entrepreneurs” wanting to make a profit off Americans looking for lower interest rates, rewards, blah, blah, blah. There is a fear now that the government placed regulation of creditors, now they are selling hard better cards…but here’s the point-they are still selling credit cards. There are still too many people trying to make a buck buy pushing credit.


You see this is the problem, consumers should learn not to be so irresponsible with spending on credit and credit lenders should learn to be more responsible with lending credit. We as a nation and an economy need to get back to the basics, spend what we earn, save for what we want and work to achieve it. They days of fast cash are over-but then I think there are some who still don’t want to accept and what to make their fortune at the expense of others.


Personally I think we need to stop making selling credit a career. I can’t imagine “credit marketer” is a collegiate degree or even curriculum. It has very little meaning in today’s society and with our nation’s problems today, can’t we do anything more productive. People know where to go to get money, the bank or their credit union. They don’t need every Dick or Harry pushing credit through cyberspace. My advice to these credit pushers –Get a real job.

Monday, June 1, 2009

American Economy - It's Magicially Delicious

In last week’s show, Bill Maher made the comment that over 40% of the American population works in the “Financial Services” business. Think about that, 40% of Americans lending credit and selling stocks. It is a great percentage of people who contribute to our economy by pushing paper. It’s magically delicious. Poof! Money!

This morning I read an article, “U.S. Consumer spending eases, while incomes surge.” The most interesting sentence in the article was, “Consumer spending accounts for 70 percent of economic activity.” In layman’s term our economy is built on consumer spending, which obviously is down now because of the unemployment rates continue to rise and issues with credit cards. People are now saving and using debit cards to shop. Consumers are being a lot more careful with spending, and for those who advocate against credit card debt-this would be a good thing right? Wrong! It is not a good thing if our economy depends on spending. And before you get too excited, income surges were from the stimulus and tax incentives and Obama’s rise of the unemployment payouts. It is a false promotion of our income surge.


Honestly, for someone who has worked in an industry my entire career, it is frightening to think that our economy is based on consumer spending. Consumer spending, unlike the production of goods and services cannot be controlled. You can control production, you can supervise service, but you simply cannot control or “force” consumers to spend, although at times we were encouraged to do so. It is a ridiculous base for a national economy and they don’t call it “Voodoo” economics for nothing. I would be more relaxed to learn that 70 percent on our economy was based on tourism, rather than our consumer spending.


Sadly, the one industry that provided the United States with products and services is now going bankrupt. GM has filed for bankruptcy and will be closing plants across the nation, thus adding to the already high unemployment rate and will ultimately reduce consumer spending-thrusting our economy even deeper.


While all is said and done, and credit card legislation passed a few weeks ago, ironically more credit card advertisement spam popped up in my email. Really? Who are these fools spamming me with credit card promotions? I would really like to know who these people are. But you see this perfect example of our nation not getting it-we are not learning the lessons. We just ride it out and wait for the dust to clear, and then continue with the same tactics and “Get Rich” schemes thinking that all our problems with magically disappear. Hooray more credit cards! Hooray more debt! Hooray more US deficit! Hooray more corporate exploitation!


When will it sink it-the bubble burst. We can’t go back. We need to rebuild the economy the sensible way based on the production of goods and services. We all (government, corporations and consumers) need to learn the lesson to spend what we earn, not what is afforded to us on credit. And the even sadder part of this blog-it’s not even our economy anymore. We belong to China.