Saturday, March 28, 2009
In the past year, our economic system has faced the ultimate of margin calls after years of rampant and reckless greed and stupidity.
Now, we all know... to twist a phrase by Gordon Gekko from the great movie "Wall Street" that greed is "not" good. It carries with it horrible economic consequences that we are only beginning to understand. And this time not only in America, but all over the world, which is the major difference between this great economic calamity and the Great Depression.
I must say President Obama and his team have done a remarkable job dealing with an economic nightmare like none of us have seen in our lifetimes. Remember Obama has only been in office in a little over two months and look what he has tried to do -- stimulate the economy, create plans to save the banks and the housing market, and set up regulations so this doesn't happen again.
And he still is pushing his budget plan to wisely invest in healthcare reform, new energy initiatives and education for the future. I have to wonder when does this guy sleep?
This week the lame fools from the GOP -- the Party of No New Ideas -- presented their lame alternative budget plan. It was more of the same -- drastic tax cuts for the rich and no new spending on anything to help stimulate and save the economy from collapse and ruin. (I shudder to think where we would be if McCain and Palin had been elected. )
We've been down that dark and greedy road these last eight years and even before that in 1980s and early 1990s. The trickle down theory is dead. RIP.
Here's a poem about the failure of the religion of greed.
A MARGIN CALL ON YOUR LIFE
This is a margin call on your life.
Can’t pay it back.
Can’t make it right.
Failed by your religion of greed.
Everything you touched has
gone to seed.
another stolen dream
on Main street.
Left with another bail out of Wall Street
Everyone still reeling
trying to figure out
what all it means
as we lose our financial means
This is a margin call on your life
for a debt you can’t make right.
Yet you demand bonuses for your
failure all the same without a hint of shame.
pontificating about nothing
Each day reaching a new low
holding on to ashes of a life
of corruption and lies.
Can’t dream anymore.
All my dreams are bankrupt.