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We are doomed. This recession is turning into a real depression very quickly.

Read this on Jim Jubak's site thought we might like to respond. A bloggers post from Jim Jubak. Houston which had been riding out the recession as oil approached $150 a barrel has now been slammed with hurricane IKE and the recovery has not happened. Just what is our government thinking when they give Merrill Lynch 20 billion dollars and the CEO of Lynch uses 4 billion of it to pay bonuses to the same workers at Lynch who stole $4.6 trillion four pension plan funds, yet FEMA is denying people promised hurricane relief money because the sick and old living on S.S. plans did not have enough money to hurricane proof their houses. FEMA is denying thousands of retired people money because they said their homes were too rotten before the hurricane hit to survive the hurricane and therefore as the home owner did not maintain the home in condition to withstand the hurricane no money will be given them.

Just what kind of sick and backwards country are we living in where $4 billion dollars in tax payer's money is given to a failed Wall Street bank so they can pay out bonuses to the same workers who had just finished stealing $4.6 trillion from our pension plans and yet no money to help poor helpless retired people who had their house destroyed by hurricane IKE?

The Houston economy is hurting bad. Most of the houses in middle class and poor areas still have roofs with blue FEMA tarps on the roof. Apparently the TARP money is not for FEMA tarp homes. Our local economy could use the FEMA money to rebuild houses and fix houses that are still broken.

I am very very surprised that the government is once again failing to do anything while it's citizens are hurting. It would much rather give billions to Wall Street bankers instead of throwing them in jail.

This proves to me that we are doomed. The policies of the government are just stealing our money and once our money is totally gone we will be like a third world country. We are no longer a first class country and we are falling fast. President Kennedy would never have let retired people living on S.S. live in broken down houses in the cold let our current government does.

Billions for Wall Street bankers and no money for people that need it.

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Look at the bright side!

When the economic pain from the present system of plunder and control exceeds the pain from civil war, nature will take her course; people will follow the path of least pain.

Government intervention in economic matters creates a controlled economy, not a free market. All government economic intervention creates winners and losers. Wealth is transferred out of someone's hands into someone else's hands. Historically, the transfer has been out of the hands of the majority into the hands of the few who are privileged by these interventions. Granting of the privilege of creating new money and loaning it into existence, collecting interest on the loans, is a good example of the plunder of the masses for the benefit of the few.

During the last 300 or 400 years, the world has exploited fossil fuels and this caused the economic pie to expand. Government and special interests were able to direct a disproportionate share of the expanding pie to themselves and to get away with it because the masses saw an improvement in living standards, even as they received a disproportionately smaller share of the expanding pie. Particularly with the exploitation of oil, which began shortly after the Civil War, the rate of economic expansion was huge by historic standards.

Now that we are past the best part of the oil age, the economic expansion is ending and the future will be one of shrinkage of the economic pie. The rigging of the economic system by government for the benefit of the few will become intolerable, and the consequences will be huge.

The collapse of the house of cards monetary system was triggered by the increasing cost of energy. Other house of cards systems, like social security, will also see a similar calamity, but again, the underlying cause is the end of the era of exploitation of fossil fuels.

People think the depression we are entering will eventually end, just like the depression of the 1930's ended. It will not end. This is a tidal change in history of major proportions.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

Sen. Nelson dumb as a rock....

Watched Nelson of Florida on news this morning. Typical politician. Evaded questions over bailout/stimulus with elementary expertise. How is it possible that people like this are representing the people of Florida? Answers something like...we'll make up the rules as we go. Shit like that. Man, he looks like he has downs syndrome. He would make a great example of why we need "term limits" in government.

In regards to the federal govt

Whatever the stated intent is, the complete opposite is the true intent.


I'm not trying to be inconsiderate

but I do believe people should take personal responsibility. They should not rely on govt. funds to rebuild their house. Nevertheless, I agree, if we are going to give the money out how can we give it to greedy bankers and not real people who need it?

well said



Be careful

Be careful where you're going with this.

"From each according to ability, to each according to need." Karl Marx - The Communist Manifesto.

Arguing that bailing out banks and other companies being wrong is one thing, but when you start to argue that this money should be given to those more in need, you're playing their game.

How about instead of using money to bail out banks, the money should have never been taken in the first place?

fireant's picture

Couldn't have said it better


Undo what Wilson did

Why are you surprised?

The government has been sticking it the little people for decades. The only difference I see is that NOW they're much more open and blatant about it. I guess that's arrogance from having gotten away with it for so long.