Saturday, 14 February 2009


A horde of opinionated people have sprung up giving their $.02 after Obama secured the USS789 billion stimulus package. Maybe I'm joining them too.

Before this, the Republicans were considering a US$700 billion bailout for major corporations who fucked the US economic system up.

"With 700 billion dollars, you could give everyone on the planet $100, which is more than a sizable percentage of them will make this year.

With 700 billion dollars, you could give every citizen of the United States $2000 - of course, it sort of works the other way around, doesn't it? We're the ones that will be giving the $2000 to foot the bill for this.

Instead, for 700 billion dollars, we are rewarding companies that were mismanaged. Which means, I presume, that a very small number of already-absurdly-wealthy old white guys will be made even wealthier. And I will still be left trying to make ends meet every month.

I'm sure there's a huge amount about this that I don't understand, but what I do understand is that I am being asked to pay for irresponsible management of huge companies, and I also understand that this is not capitalism. This is corporate welfare. This is a handout. And it's a bunch of wealthy people in government rewarding themselves, propping up their own portfolios, and rewarding their buddies on wall street, completely without regard for those of us who foot the bill."

In terms closer to home, it's something like this. A completely screwed up professor commits a crapload of errors over a couple of terms, and then approaches the Dean and says, "I'm really sorry about my mistakes, but I need money to make up for them. Not only that, I'd like a bonus too!" And the Dean approves the request, and gets the students to pay higher school fees.

At one time people were wondering, if the 2nd bailout got through like the first one did, whether we were wasting a crisis.

Obama's call for the stimulus package while refusing to help the major financial players is a good way to go and would potentially save many jobs. Ceasing tax cuts for the rich would begin putting a stop to corporate America's hold on state politics and public policy, which means we would finally see some proper, smart and at least logical decisions being made for once. People have accused Obama of being socialist especially when he's considered seizing errant banks and corporations that have gone bankrupt instead of giving them money 'to stay afloat' but I couldn't think them any more ignorant right now.

Audio Candy:
Stars - One More Night

No comments: