My Economic Rant

by on November 10, 2008

Over the last few months we’ve seen the economy plummet down rampantly. Moreover, big, prestigious corporations crumbled like toothpicks under a car’s weight. These companies weren’t new and inexperienced, they had decades of experience and they still crumbled. 6 or 7 years back AIG was rated to AAA as one of the strongest corporations, so on and so forth. Now it seems that the Fed is pumping rescue packages in AIG like cans on a conveyor belt. In addition everyone gets a severance package. What a nice slap on the wrist. And yea, mostly are the upper income employees that get the severance packages. The other ones just go home and pack, because soon they are going to get evicted or foreclosed.

Why aren’t we average Joes Schmoes getting stimulus packages when we get fired, so we could get by until we get back on our feet. That would work nicely because we don’t have to save for harder times, the same as the big corporations. Spend it all baby. Wouldn’t that be a lot more fairly? So when everyone when gets fired, they should apply to the Fed for stimulus packages to cover rent, food and spa treatments, to try and alleviate the stress of losing the job. Perfect isn’t it? Moreover the Fed should NOT say that we should have saved, because they obviously fucked up when they didn’t made a law to provision these corporations to invest let’s say a well calculated percentage in the Fed to have as backup for these exact speciffic situations.

It seems that someone messed up big time. And I still don’t understand why these, basically loan sharks, try to put more burdens on the borrowers. They say that they take a greater risk lending to someone of a lower income. But I said it before, either you lend them at a fare rate, or don’t lend them at all. The poor shouldn’t be paying double for a house whe a richer person would pay only half for the same house. what king of logic is that anyway? If these loan sharks would be arrested and put in jail then everyone else would think twice before they would predatory lend to anyone.

Why these great (not so much now) corporations didn’t have a backup plan? I mean there should be a reserve of a certain percentage that should be invested in the Fed at a very low interest. Or as larger interest as it gets, but no, these blood thirsty ticks invested everything on mortgages to bleed the low income population, and now they even had the nerve to foreclose them. But I guess that didn’t work that well because they kind of foreclosed themselves. The bad part is that all those rich bastards are still doing well and the Fed is pumping money. And the foreclosed people are on the street. Maybe a great lesson for these fancy economists would be to not get hired, just like convicts. What I mean is that when convicts get out of jail they get nothing, or all the shitty possible jobs. Maybe if all these AIG, Lehman Brothers, and all the others will get the same treatment it would teach everyone a lesson. If you come to analyze it is fair, you fucked up and now you have to redeem yourself, just like a convict, go and start flipping burgers at McDonalds. This way a newer generation will come. They will be not as experienced but also they will less likely to take the same risks, therefore it evens out.

Wouldn’t it be fair? I would love to see a CEO end up filling gas or flipping burgers. And I am not talking about flipping his own burgers on weekends, and filling up his tank. I am talking about of seeing one CEO being foreclosed out of his mansion, and ending down in the gutter, because I am sick of all this fancy economics, which favors the only the upper income people.

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