It is amazing to me how just when I think the economy cannot get any worse, it does.
With huge businesses being bought out by other businesses and mortgage companies going up in smoke, I think I have come up with the perfect solution to the current economic crisis. Actually, Clayton told me he heard the solution on the news this morning... so I am just relaying what I thought to be a great idea.
The failed "bailout" proposal was going to solve the Wall Street problem by handing over $750 BILLION to the companies that have gone under to get them back on their feet. (generally...)
Am I the only one that thinks the real problem is constantly being ignored? The REAL problem is not the big companies. The REAL problem is not Wall Street. The REAL problem, my friends, is Main Street.
Everyday people like you and me stand around grumbling and complaining about the economy - pointing our fingers at Democrats or Republicans and placing the blame on everyone that we deem more financially secure than we are. Let's get real, folks. The economy is in our hands. If the stock market plummets.. it is our fault. Not Wall Streets.
This problem has been snowballing for many, many years. It starts with your average Joe seeking out the American Dream. A transvestite comedian named Eddie Izzard (he's British) defines the American Dream in one of his comedy sketches as, "Making all of the money in the world and then sticking it in your ears."
We Americans have slowly created the disaster that is in front of us today. We've purchased houses that we knew we could not afford. Why? Well, because we're Americans and it's our RIGHT to own a home! It's even more of a RIGHT to own THE home we want.. the one of our dreams!! So what if we have credit card debt up to our eye balls, student loans we cannot pay back, late fees each month from bills we currently cannot pay... we deserve it daggummit! (I'm definitely in the credit card debt situation... working our tails off to try to right that major wrong!)
So, once the war in Iraq happened and the oil companies began making RECORD profits by jacking up gas prices like no one has ever seen... those of us already in a bind became in quite the pickle. We could no longer shuffle bills.. we just simply could not pay them. Mortgage companies lost more and more money each year.. causing the big catastrophe we saw this week.
So, you see, WE are responsible for the current crisis. Seeing as how we are responsible, I think it's only fair that the Federal Government bail US out. They are willing to throw ungodly amounts of money to corporate America... but what about us little folks that actually make the world go round?
If the $750 billion was rationed out evenly amongst the American people, instead of thrown into big business, I heard an estimate that we would all get a nice sum of around $450,000. Hmm.. do you think THAT would stimulate the economy? Do you think that would turn Wall Street AND Main Street around? I sure do!
That will never happen.. only in my dreams, but it makes me a little nauseous to know that the money is apparently there to throw around.. but the folks that need it most will simply never see it. They won't offer it to us to pay for our gas for the next two years, or to pay our insurance costs and health care costs for the next one year, or to offer to pay off our mortgages so that we can free up money each month and hopefully help ourselves get out of other debts we have. Oh no... that would not make sense! Instead, we should give it to the people that are really hurting! You know, the ones that live on Wall Street.
**disclaimer: I am not a financial expert or whiz kid. I'm sure I have no idea what I am talking about and feel free to let me know how wrong I am.