PUT IT IN TERMS THEY CAN UNDERSTAND

THE ECONOMY, THE BAIL OUTS, THE TAX CUTS FOR THE RICH

I don’t have a PHD in Economics but I think that I have a pretty good grasp of the issues and how we got into the mess we are in and most importantly; who caused it.

We must put it in terms that our less fortunate citizens who really don’t have a clue how economics work…mostly those who vote Republican because they are fearful of the word SOCIALISM or because they have been told unfathomable lies they have bought into.

Why don’t we deal first on how we got into the mess we are in? The Republicans and some Democrats thought that by allowing business to run unbridled and had fewer regulations that it would help the free enterprise system…that is called LAISSEZ FAIRE economics. We now know that if left to their own devices we need to have regulations in order to prevent greed to overwhelm the whole process. Greed has no conscience and neither do corporations.

We as a country began to dismantle and to systematically eliminate all the regulations that were in place Since the Stock Market crash of 1929 that drove our country into a very catastrophic economic depression. All these regulations were meant to prevent that kind of thing from happening again…and yet, the smart know-it-all Republican economic geniuses said that we shouldn’t have government interfere and that business had to be given a free reign.

Ironically, those very regulations were the reasons that the economy was prosperous because the unnecessary and unwise risks had not been materialized yet…there was a parallel market, derivatives and very creative schemes that eventually failed.

Because Republicans have always been loyal to the richest of Americans, and many of them were their cronies and even some of the politicians stood to lose quite a lot if these institutions were allowed to fail. They came to the American public with a proposal to bail out Wall Street and the failed banks. No strings attached, no repayment schedule…nada.

Of course this is not just ridiculous but highly unethical because these very people who should be actually prosecuted for their greed and incompetence were given BAIL OUTS…they were rewarded for driving these companies to the ground. Furthermore, a lot of those hard earned tax dollars went to those very people who headed those failed companies and they awarded themselves very hefty bonuses and termination packages that were in my opinion downright immoral. But the Republicans were fine with that…no questions, no regrets, no buyer’s remorse.

Fast forward to the present and we now find the same Republicans advocating that it wasn’t enough to reward these people of great wealth with bonuses and rewards but that they should have the Bush tax cuts extended as well…What are they thinking?

PHOTO SOURCE: http://www.google.com/imgres?imgurl=http://www.hsart.com/images/Wall%2520Street.