Sunday, 29 March 2009

Recession's over!

Hah, you wish. That mutual fund tanks more and more every month, doesn't it. At any rate, I'm back!

Oh the economy...
I wish Paul Krugman would've taken Larry Summers' job. Obama really screwed us over with his stupid Clintonian economic team, with still plenty of bush hold-outs. Oh I'm far from being an expert on these matters, but I do know that feeding the rich, greedy fatcats who got us into this mess — think sub-prime loans, short-selling stocks to undercut active companies, etc. — more money sure as hell isn't gonna solve this. Obama also isn't realizing that it's a systematic problem — time for a re-haul... you know, that CHANGE he had promised a few months ago.

Ben Bernanke has to be sacked; I know neither an intelligent conservative or liberal who is happy with his performance leading up to and now into this recession. We must not be afraid to shake things up a bit, especially since we're already so far downhill — and this may only be the start of our descent. Joseph Stiglitz really needs to be brought in to do some damage control. This is a must-read from Harper's I've been meaning to post for a while now. Quite important to see how much the Bush administration directly fucked up this country (except for the rich) during their eight years, and how we cannot just shove the knowledge of such greed and mismanagement under the rug. It's time to face our demons.

There's also a very good video to understand this whole financial mess (and it's easy to connect the dots from where the video leaves off, i.e. international downturn caused my America's own woes). Oh and to top all this off, Europe's making a fool of itself by not doing what it does best: public sector spending! C'mon, learn some lessons from previous recessions!

And is anyone else annoyed at how much attention the rich are getting in the media? You'd think the people who will easily weather the storm when many are losing their livelihoods. Oh, one more thing though, where's the bailout money going? I hope to see more stimulus bills though for job creation, education, infrastructure, etc. It worries me how amazingly shortsighted politicians are about cutting spending in such vital areas with long-term effects.

1 comment:

Toronto Realtor said...

I am more annoyed with the constant news about the recession in media. Everywhere you look, it's stories about the crisis, nothing else. It's so depressing and demotivating. I bet the crisis wouldn't be as bad if the media didn't blow it up like a balloon so much. Nevertheless, great article. That video is amazing by the way.

Take care, Julie