We are doomed. This recession is turning into a real depression very quickly.Submitted by doctor011 on Mon, 01/26/2009 - 11:08
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.