Pages tagged “recession”
Op/Ed: The People's Republic of Wall Street:
Patriotism is supporting your country all the time, and your government when it deserves it.
- Mark Twain
I can’t help but wonder what Mark Twain would have written about the recent string of government led bailouts. After all, he once opined that one should be careful about reading health books; you may die of a misprint. We’ve been led to believe that this great nation would prosper indefinitely on the basic tenets of capitalism, a meritorious set of principles grounded in the inalienable philosophy that risk should always be in direct proportion to expected return, that we are paid according to what the free markets are willing to bear and the most efficient and most productive amongst us shall reap the rewards of hard work and innovation. Well, it would seem that this very idea of a free market society is dead, and I’m told it committed suicide.
Read in Full >>
Op/Ed: What the Bailout (Assistance) Really Means:
Well, it is official. Whether we like it or not, we as a nation are locked into bailout (assistance, really) for Wall Street. But will the average man in the street (what every TV pundit and talk show host refers to as Main Street) really be ok with the passing of this assistance package? No one really knows, as a financial crisis like this has never happened before in the history of this great nation. No history means no frame of reference. Our financial system is a very complex interweaving of Wall Street and Main Street, both locally and globally. However, there are components of this quagmire (which is what it really is) that is our financial system that should be explained to and understood by the public so that one can understand not only why this assistance package is needed (House and Senate representatives you may want to sit in on this tutorial, as it may save you more embarrassment in the future) -- but why it is needed now. Read in Full >>
