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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: riversides who wrote (110017)	3/28/2010 6:59:13 PM
From: Little Joe	15 Recommendations Read Replies (2) of 116555

Just goes to show you how clueless the N.Y. Times is. I think the rage is rational and has been building for years. It has to do with years of voting for government that would be responsible and getting the opposite. The sea change began to occur, when conservatives became critical of Bush for his big spending Conservatives want a balanced budget and less spending. They got the opposite, despite having elected conservatives. They also think the government wastes huge amounts of money and delivers very little for their tax dollar. I recognize that liberals think otherwise, but that is not the point. This issue of dissatisfaction with the fiscal policy and the effectiveness of government exploded when out of the blue in September of 2008, we learned that the entire financial system was on the verge of collapse. The government accepted no responsibility for its part in this debacle. Its solution was to spend billions of dollars to bail out banks against the wishes of many, if not the majority of Americans. Again with very little debate in early 2009 the government, against the will of many Americans, spent Billions more on a program that they were promised would keep unemployment below 8%, and which of course is a dismal failure. Of course fuel was added to the fire by the unfairness created by the banks prospering at our expense, while the average American is suffering. The high-handed ram it through tactics of the Dems and for that matter some Republicans (as to the first bailouts) has furthered angered many Americans. It seems perfectly rational to me that people would be upset with the performance of government as they face huge taxes, which we know are coming, and the prospect of lower incomes and a worsening economy. That is the reason for the anger. For some reason liberals seem to be unable to acknowledge the legitimacy of this reasoning and seemed compelled to assume that the real reason for opposition is racism, hatred or some other sinister motive. lj

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