The foolishness of the federal government is painful. I have found some relief in my congressman’s refusal to vote for it – Bill Delahunt, a democrat, no less. I could not hope for more from John Kerry or Ted Kennedy.
The Asian markets are expressing their “confidence” this morning in the Congress’ solution – markets are plunging. In fact, the only time the markets have really gone up is when the first run through the House failed. The markets know what the man in the street knows. The bailout is no solution. The financial sector will find a way to lend and extend credit without the federal government’s help – they would just have to do it in a way that is safe. Now they can skip over the safe part because Congress is there to give them more money if they make a mistake. This is not the way the citizens want this to be. We see the downside – making government the source of wealth.
Where is Bono and company on the immorality of this exercise? The “forgotten man” (see previous post) is expected to bail out the rich and ensure housing fand medical care for the poor. He is expected to have both adults in his household work full-time jobs and have no time for their kids or funds for their college education. He cannot receive a pension but must invest in the stock market for retirement, a market that increasingly is a haven for schemers and scammers. If he loses his retirement, he is accused of bad investing. If the Wall street types lose, they get government help. Some day some one will rise up and praise the forgotten man and give him a break. Meanwhile he prays and pays – like his conscience tells him to do. Oh, that others had his conscience.
By the way, if you want to know where a candidate is coming from look at the charitable giving. Looks like McCain gave about 25% of his income to charity, vs Obama increasing in recently years to about 6%. Biden gave $369 to charity. That’s right. $369. Palin only gave $3,325 of a salary of $166,000. These candidates, except for McCain, fall far below the average American’s commitment to charity. This fact alone tells us a lot about how they will go about solving financial problems – someone else is going to have to foot the bill and it isn’t going to be them.
By the way, I am still looking at my favorite blogs. They seem to be merrily skipping along as if nothing much is happening. All the time the financial future of our republic and the heritage we pass on to our children will keep everyone grinding at the wheel, unable to stop and take a rest.
