More on "Change"

Well, we wanted "change" and it seems we are getting it. Just four years ago, Senator Kerry was out there stumping his candidacy and telling us that it "was the worst economy since the great depression". I guess he was a little early, or prescient. But by golly, he was correct. Or maybe if you make sufficient predictions, eventually they will all come true. Eventually, the world will end and if you flip a coin you will eventually get "heads".

NY Mayor Bloomberg was talking to the media and calming the waters. He said that "New York is as well prepared as ever to handle the financial emergency" or words to that effect. He has cause to worry. For every job lost on Wall Street about 2 or 3 dependent jobs are also lost. And as we know from the screaming headlines of the past few years, these were not "ordinary" jobs, as in "median income". These are high rollers, who spend a lot of money on toys, dining out and so on. The State Comptroller's office in New York has been quoted as stating that approximately 5% of the jobs in New York City's jobs are in financial services. However, those jobs account for about 25% of the city's wages. That was $60 billion in 2006.

I haven't heard a word from New York's Senator Clinton on all of this. But it could simply be that the media is so inundated with bad news that they simply won't give her any air time. The Senator has had a field day bashing the "oil companies" because of their excess profits. I have been waiting for her to bash Wall Street for it's inordinate greed, profiteering, etc. Since 2007 Americans have lost $2 trillion dollars as a result of the "sub prime" and "prime" meltdown. That makes a few billion in profits for the oil companies look like chump change.

http://letmethinkaboutthis.blogspot.com/2008/09/some-musings-on-economy.html


Besides, it isn't like I am getting nothing from the refiners. To the contrary, I fill up my gas tank whenever necessary and we as in "we Americans" send about $500 to $700 billion each year to legitimate and despotic governments all over the world, because we can't or won't stop our insatiable desire for oil.

Oh, and let's not forget, this is all a choice. We choose not to drill, we choose to drive SUV's and we choose to drive trillions of miles each year.

Wall Street, the banks and the politicians are in collusion to steal our money. Now we have low interest rates so as to prop up the banks on Wall Street (again) which means retirees are hard pressed to get a decent return on their money in CDs or bank accounts. To get a return, it seems, we are supposed to invest in unsafe, unregulated financial instruments. And who decided that? Thank you all, including Senator Clinton for your silence and lack of action. We know whose pocket you are in!