If you haven't heard the news you are living in a bubble, a big financial bubble that is starting to drop like the Hindenburg. Adding to the ever growing list of banks failing we now have several big insurance providers failing also. First Lehman Brothers, now AIG and of course you remember Fannie and Freddie right? With several more waiting in the wings. Now thanks to Bank of America and of course some government interference (think fuckery) the tax payers do not have to eat the bulk of the Merrill Lynch "buyout", but you best believe we are going to share some of that financial responsibility also, Freddie and Fannie are going to costs us billions as is, now add to that Lehman Brothers and the impending collapse of AIG and these cost's are going to be in the trillions. Now I am no economic guru, but even I can see this shit just don't add up. These companies were supposed to be the brightest and best, the biggest and strongest with excess capital and on and on yet they are dropping like flies. The most obvious cause is the shrub administration's dimwitted economic policies in particular total Laissez-faire and lack of regulation on corporations a.k.a. the dark side of the free market system. We also have to fault rampant consumerism also, but this is not about us...well sort of!
This is definitely the free markets fault and all the defenders of said market. Like I said I am no expert on this economy stuff but in a free market aren't companies supposed to fend for themselves and be better than the next guy or be put out of business by the next guy?! What's different about this situation. It's not like all of the insurance companies are going broke, right? Those that are not going broke should buy up the other companies and in turn become bigger themselves right?! That is how the free market and capitalism for that matter is supposed to work right?!? Anything else is socialist and communist right? So why am I hearing about my government bailing out these corporations. We already have a corporate welfare state, more socialist programs befitting corporations than people, now massive corporate takeovers by government, whats next Perestroika? <--(Thinly veiled comparison of communism and the current government policies).
That brings me to my ultimate point and where we fit in being part the problem of the insanity is that we have tried these things before and they have failed miserably and the ultimate loser is us, yet here we go again with more insanity. We won't give money to programs for the poor, because it's socialism, yet we are ready and willing to give it to millionaires! We bitch and moan about food stamps and a couple hundred dollars a month in welfare for the poor, yet we give billions to the already filthy rich to bail out their companies that are squeezing us like lemons! WOW!
You know I really do not feel bad about those insurance companies, because insurance is the biggest racket since the IRS was created. You pay them and pay them and nothing happens as soon as something does happen they do not want to honor their part of the agreement. Now it is not a total scam but ask folks about flood insurance in NOLA or even closer to home in MD. There are still people in MD waiting for settlements from Isabel in 2003!
This insanity reminds me of some lyrics...From Brother Ali - The Undisputed Truth - Uncle Sam Goddam:
...You don't give money to the bums
On the corner with a sign, bleeding from their gum's
Talking about you don't support a crackhead
What you think happens to the money from yo' taxes
Shit the governments an addict
With a billion dollar a week kill brown people habit
And even if you ain't on the front line
When the master yell crunch time you right back at it
You ain't look at how you hustling backwards
And the end of the year add up what they subtracted
3 outta twelve months your salary
Paid for that madness, man that's sadness...Brother Ali - Uncle Sam Goddamn
Oh Thee Insanity!
The New Defenders of Humanism