How so? You don't have 30% unemployment now.
Are you sure of that? When you calculate unemployment the way they did during the Great Depression, we have similar levels of unemployment. In today's crazy way of calculating things, they don't count the unemployed folks who have become so discouraged that they stop looking and they don't count those who are no longer receiving unemployment benefits. Say what?
That's what Bush put the US into. He slept at the wheel and led the country into a possible depression.
Bush sucked eggs. No doubt. That's why I voted for Obama. I wanted change.
Obama's policies have lead to slow growth in jobs since Chimp left office.
Bullshit. When Obama was sworn in as President, Total Non-Farm Employment stood at 133.6 million. Now it stands at 131.1M. That's a loss of 2.5 million jobs over the last 2.5 years. To just keep up with the population growth we've had over the last decade, you'd have to grow jobs by 250K per month, and yet, jobs are shrinking.
The alternative would've been a deflationary death spiral, total failure of the banks, massive job losses beyond your imagination. You want that? If the free market ideologues got their way, that's what would've happened.
Yes and no. Letting the free market run its course would have undoubtedly caused the failure of many of our largest banks. Even now, most of the top 10 banks, if their assets were marked to market, would be insolvent and would be forced into bankruptcy or would need to seek new capital to return to solvency. If we'd let them collapse, or better yet, done what we did in the 1980's during the S&L crisis, where we let some go and the government seized the others and sold them off or restructured them, then we would have reset the economy for growth. Yes, jobs would have been lost and pain would have ensued, but then we would not be stuck with the inevitable two decades of slow to no growth ahead of us.
Do you want to know what is ahead of us? We are doing EXACTLY what Japan did after their real estate bust. Two decades later, the Nikkei has lost 80% of its value and Japan is still supporting their zombie banks. Japan has done all of what we are embarking on: money printing, asset purchases, increasing taxes, cutting social programs, etc. And THEY STILL HAVEN"T SOLVED THE PROBLEM.
Socialism, bailouts, and the nanny state simply don't work. You can feed more heroin to the heroin addict and they'll feel great for a little while, but then the overwhelming need for more heroin kicks in. Open your eyes. Exactly what do you think is happening in Europe right now with the endless bailouts of Greece?
We need to take the hit RIGHT NOW. If a bank is too big to fail, then it should be seized, dismantled, and made too small to worry about. Yes, it will be painful, but the primary folks who will lose their jobs are the very gangsters who created this mess to begin with.
I don't give a rat's ass if the banksters and the folks on Wall Street lose their jobs. Do you? It's time to end their free ride. Otherwise, you will find that all of your social security and other Entitlement benefits will be sucked dry to recapitalize all these large banks so they can continue to pay themselves fat paychecks.
This is the greatest heist in American history. Keynesianism is being used to steal from you and me and pay off the rich folks. |
