I honestly am worried about our country as are many others on this site and nationwide. The difference is that the masses are leading us towards more of the same if not worse, while the smart sensible opinions rooted in logic and sound theories that can be applied to real life situations are being ignored, just like all the fundamentals were ignored during the dotcom bubble.
The results of the current crisis will be much worse. The bad news is easy to find, just turn on your TV or read your newspaper’s letters section to see the bad logic flowing from Democrats, Republicans, old, young, black, white, poor, and rich. So many are worried about bankrupting Social Security due to Wall Street “greed,” high gas prices due to corporate “greed,” and on and on. Why don’t we ever mention the real American killer: political greed?
Otherwise smart and logical people get caught in the same trap every day. They are fed the same headlines and spin anywhere they turn. Exxon Mobile reports record profit! No one goes into the details of the situation, such as what was the price of oil? How much demand was there for the product? What was their profit margin? And you could ask hundreds of other questions, but no one even bothers to ask the easiest few. If one does somehow get asked, “greed” is blamed.
However, the fundamentals of economics cannot be altered. Only supply and demand can control prices, not some far-fetched notion of “greed.” So we are not only by and large ignoring the situation’s core lesson but also misunderstanding it whenever we do delve into it a little deeper.
What about politicians’ greed? They run up huge expense accounts, build up their pensions, furnish lavish offices, wear expensive suits and ties (sort of like Palin, right?!), and some (probably more than we suspect) outright steal money to hand it to friends and family in the form of cushy jobs protected by the government run monopoly.
Who pays for this? The taxpayers, of course, else they will be rounded up by the IRS and jailed, so that other taxpayers can then fund their existence.
What is a better example of greed: A company selling its product for a market price, or a politician taking money that he has no real claim to other than “pay up or else” and doling it out as he sees fit?
One option rewards hard work, good ideas, and smart planning, while the other rewards knowing someone higher up, criminal activity, or even sexual favors in some cases. There is a glaring double standard going on right under our noses. Yet we continuously blame the corporations instead of the real culprit, which in turn emboldens the real culprit to ever larger and more glaring offenses.