Bi-Partisan State of Affairs
Today is the 79th anniversary of Black Tuesday. On Monday 28 September 1929, just nine days after my mother was born, the stock market fell 13 % and on Tuesday it fell another 12%. This 25% was exacerbated by the loses the week before and by continued losses for the next few years, into 1932.
Today congress voted against a bailout of America’s failing financial institutions. We are at the crossroads and it is not looking pretty. We have been watching this for several years. We have encouraged everyone we know to work to get out of debt and to prepare for the rocky road ahead. We had hoped this time of abundance would last just a little longer. Perhaps we will see a slow decline, but I must be ready to accept the reality as it happens.
Americans would like to find someone to blame, to pass the buck, and not take personal responsibility in what is happening. This situation did not begin on Bush’s watch, it has been going on under both democratic and republican presidents and congressional majorities. So, lets stop the finger wagging.
Suck it up and realize how short sighted we have been.
Who is kidding who. America would like to believe government created the problem and government will stop it. Those who believe this are either blind or ignorant. Many of us, truly ignorant of our form of government and the real blessing it is, have voted for every program they thought was beneficial. This has been done with a blind eye and deaf ear to the past, no regard for the morrow, and with little thought to whether it was the proper role of government. I do not know who they thought would cover this bill. Government has become a large public works program. More people that serve in these capacities are benefited than those poor that they serve. Overhead takes up a majority of the costs to the public. It can be done cheaper, quicker, and with dignity through the private sector and churches. It would have been cheaper to just give the poor a check, than to build buildings and hire staff to write the checks.
We looked around and passed off the cost to corporations. Corporations and even commercial farms went off shore, where profits increased due to fewer restrictions, less labor and production costs. We even started getting our food imported. Beautiful looking fruit. Many times this food is grown with chemicals banned in the US. As many Americans lost their manufacturing jobs over seas, they watched their own prospects to continue the abundant life diminish. Americans were at first able to buy goods and clothing from overseas for less than we could make them here and we were able to live rich, driving up the trade deficit.
Americans began feeling the pinch as paychecks could not keep up with rising costs and the taxes that removed any real gains. Baby-boomers began to see that social security would not be security for them. They looked for ways to increase their long term savings. Looking for ways to make higher returns for stock holders, pension funds, retirements, and other benefits, it became easy for financial institutions to slide out of their once more conservative money handling strategies. Oh it became a heady day. No one complained while the ride was wild and they built dreams of paper. Naive and ignorant to the past, they joined in the high stakes game. Their lack of economic sophistication, combined with greed and ignorance, and they began to gamble. We spend billions and billions on mass education in this country, an education that is both mandatory and compulsory. We have been way to busy to pay attention to who was rocking the cradle, dumbing us down, social engineering, and simply focusing on “job training” that we have failed to prepare our people for real life. We have created a people that cannot fix the problem because they do not really understand their history and what has been tried and failed. They do not understand the form of government that was given to them by their ancestors at great cost. They also do not understand how to be a conserver of anything but endangered species. They do not save. They do not prepare. They are laughing people on a train heading for a chasm with the bridge out.
Perhaps you are not like the people I just described, you are not naive, you know the past, you have carefully prepared for the future, and you understand our form of government, guess what? You are on the train too.
We are either part of the problem or part of the solution. What are you? America and the world is in for some very hard lessons. We can be bitter or we can be better.
When it comes to the election I hope you are knowledgeable enough to be able to vote with your head and not get caught up in the rhetoric and emotion. Know that charisma and rhetoric will not save us. Countries and cultures in financial crisis’ that have looked to charismatic leaders to save them ended up paying dearly. Look at WWII Germany. Hitler promised them the moon. A closer look would have shown them that the only way to achieve what he promised was through what he ended up doing. Same thing with the Bolsheviks. Blind change will not help us. More socialism will not save us and make us strong again. We do not need more government and more socialist agenda. There are no easy solutions. We cannot buy ourselves out of this. It will take a long time and careful work to work our way out of this.
I am sad for all those who are going to suffer, which is all of us in the end. Time to roll up our sleeves and get to work.
To quote my central classic, ” Oh be wise, what can I say more!”