Wednesday, September 17, 2008

Economy - where do we go from here?

Hey, economics is not exactly my thing either, John.  So you and I might want to step aside and let someone take us in  a different direction.  

One thing I do understand, as a rational thinker, is that when you scream, "Free Markets" and "Drill, Baby, Drill", you are acting out a faith-based position on what form of government and economics you think actually works.  Barack Obama, clearly and in detail, articulates what needs to be done now (and why McCain is exactly the wrong choice for America) in this video at BJ Keefe's blog.  If you feel a bit undereducated on economics, take 40 minutes of your time and catch up.  John and Sarah are certainly welcome to watch and learn.


The Ridger, FCD said...

Absolutely faith-based. And check out what he wrote in the Sept./Oct. issue of Contingencies, the magazine of the American Academy of Actuaries:

"Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."

Yeah. Let's make health care just like the last decade of banking!

Sarge said...

From what I've been watching and listening to and watching there are two basic schools of thought:
1 No one actually really knew what was going on, they just kept on passing slips of paper with numbers on them and socking real money in their banks and "investments" which seem to have maybe gone into the tankeroo. No one really THOUGHT much about it, it was simply what one did to make money, lots of it.

2 They DID know that the whole thing would go down the shitter eventually, but hey! There was money out there by the truckload, so grab what you could while it was still around and shit on the "losers", anyway. Serve 'em right.

The ridger is right, it WAS pretty much faith based. The deity was The Market which had "wisdom" (??!!) and had to be "free" to find its so it could grow and prosper, and if anyone said "This shall all end in tears" would find a fiduciary version of PETA on his ass.

But I've noticed among the people who spouted that idiocy, now they seem to know where to lay the blame. On the very people who let this entity go free, and, the consumer. Yep, they were just trying to be nice guys, letting everyone own a house. See what it gets you...

They are all against "socialism". All for "privatisation" Odd, though, they want their profit private and their losses to be "socialised". Heads they win, tails, they still win, but others lose.