Not quite at a loss for words...rant ahead...
After reading some of Alstry's posts, one from topsecret09, and a few others I found myself typing up a bit of a rant as a response to one of them. Instead of polluting their BLOGs with my rant, I decided to just take the rant and drop it into my BLOG. Since I am not as prolific at TMF as the folks I have been reading, I imagine this rant will see very little traffic, but at least I got it off my chest.
As the Joker says, "Here....we....go...":
What amazes me is the fact that the billions upon billions of dollars we have given to the street to bail out businesses deemed "too big to fail" could have been used as a pool of money to finance the payrolls of some serious job creating efforts.
How about putting some of that money to work on green energy projects like wind farms, solar farms, etc? Building those out requires quite a work force, and the end result would/could be a reduction in our reliance on fossil fuels.
How about putting some of that money to work on reworking our transportation infrastructure? Mass transit systems? Roadways? Any number of projects that create a variety of jobs that in the end benefits everyone involved.
How about putting some of that money to work in our education systems? Rebuilding schools? Payroll for new teachers? Improving our abilities to educate our youth so our aging population doesn't get run into the ground by undereducated youngsters. There are endless possibilities here that could employ any number of folks from janitors to administrators.
How about putting some of that money back into the hands of the tax payers in general? If you are going to give billions of our dollars to banks that are clearly stealing from the government and the taxpayers to begin with, why not let capitalism work on them? Give the money to the tax payers. Let the banks work to earn the deposits from the taxpayers. Then the banks get an appropriate amount of money based on the efforts they put in to earning those deposits.
There are so many different ways that the government could go to resolve the unemployment problem and thus help the economy, but no. They give it away under the guise of a threatened bank generated economic collapse. News flash, the consumer based economy that the US has become is going to end up failing if there are no more consumers because they have no money, can't get any money (credit) or have no hope of a future involving a job that pays them money.
I find it hard to believe that with so many smart people in our country and around the world, that someone hasn't come up with a better plan than just giving it away to big banks so they can stay afloat. If I ran a business and did so poorly, and ended up failing, what are the odds that Uncle Sam would come to my rescue? Pretty much none. I would be told that is the way of it in a capitalist nation. Sink or swim, it is up to how you run your business. Guess I should go become a banker...
Sorry for the long rant, but this entire bail out the too big to fail banks thing drives me nuts...
Rant complete. Fool on.