Sunday, September 07, 2008

The Weeks Economic News - And it's All Bad

Just when you think things have got to get better we are inundate with stories that show the worst is yet to come:

Unemployment Soars.

Foreclosure Rate Soars.

Gov't takes over Fannie Mae and Freddie Mac.

How can anyone even consider staying on the same course? Have we all lost our collective minds. This mess was years in the making. It is lack of regulation that have led us to where we are today and what does john McCain promise? He promises more of the same. Is there anyone who still believes that less regulation is the way to grow this economy? This idea that less regulation will cause industry to police itself is as crazy as believing that Sarah Palin is a true reformer when her history shows us the opposite. Are we really that lazy that we will no longer investigate what we are being told? Those who have the most to lose seem to understand less than those who have everything to gain. We risk becoming a society of haves and have nots without a knowledgable electorate. Today it is easier than ever to fact check and learn the truth.

We have turned the Presidential election into a popularity contest not a test of ideas. We elected the person we most wanted to have a beer with and 8 years and a devastated economy show where that led us. Are we willing to make the same mistake again? Our standard of living is on the decline. We are now a paper tiger saddled with the world's largest national debt. Is this really the direction we want to take? Or military might can only take us so far. So what we can destroy the world 100 times over. Will that fact educate our people, provide decent affordable health care for all or keep our poverty rates from soaring? The answer is no.

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