Okay, Someone Explain This To Me...

Currently, the United States is in what some would call financial turmoil. There are many factors as to why this happened as well as the realization that there are very few viable solutions. Now this whole thing has become a partisan playground and Wall Street might as well be Baltic Ave. So what the hell is going on?

Usually, when a country is in an economic slump, one of the tried and true ways for rebounding the financial situation is to have a nice little war. Jobs are created, nationalistic pride booms, and viola! The economy is climbing back up into the black. This time it's a little different. We're already at war...a war that has been anything but a stimulus package. Many believe that this is where the country started it's downward slide. I might be one of them. But let's focus on the situation at hand.

A few years ago the housing market was doing quite well. Mortgage companies came up with a really sweet sounding deal: Adjustable Rate Mortgages. The ARM appealed to many Americans who would not normally have been able to buy property. Once the fine print was read, this deal was potentially very destructive. But that didn't stop people with the excitement of being able to afford a home. Who could blame them, really? As predicted, the interest rates began to soar and foreclosures and defaults on these loans spread to record levels. Banks and other financial institutions reported losses close to half a trillion dollars.

President Bush stepped in and signed into law an economic stimulus act which would give taxpayers $300 to spend and help boost the slumping economy. That, and a few interest rate cuts were implemented in early 2008 hoping to ease what was rapidly becoming a crisis. Well-known institutions like Bear Stearns, Fannie May and WaMu were beginning to fall. Investors and corporations alike were starting runs on banks.

Again, the Government decided to help out these failing financial institutions with a 700 billion dollar bailout plan. A bill that has had major opposition and on Sept 29 was defeated in the House...mostly due to the Republicans. The Stock Market responded as shocked as you'd expect, falling over 700 points. A funny side story is McCain's laying claim to be the architect and savior of the nation by attaching himself to this plan...only watching it get defeated by his own party. D'oh!

So. Let's get this straight.

Greedy mortgage companies distribute what could only be called criminal-level mortgage deals to buyers who, sadly, could not afford their own home. This caused a massive amount of default and they were left in huge debt. Um, why didn't the story stop there? Yes, it was a HUGE loss, but didn't these companies get what they deserve? Isn't this some sort of karma?

Listen, the markets and economy are cyclical. History can tell us this very easily with a quick glance to the books. So here we go, attempting to put 700 billion on the line. Mind you, we're not a nation who's books are in the black, either. With the war effort, we're way way way in the red. THEN there's the economic stimulus package, and THEN there's this 3/4 trillion dollar buyout to stabilize the economy. I. Just. Don't. Get. It.

Isn't this like teaching children that they're all winners and everyone gets a gold star? Yes, it builds their immediate self-esteem but hardly prepares them for the harsh world where you actually have to work hard to win? What preparations are you giving the kids for the future? Believe me, we've already seen the work ethic of years past all but disappear. Just think what's going to happen to corporate executives when their parents aren't around to argue their raises for them.

Someone explain to me how saving the economy is better for America in the long run? Someone explain to me how questionable actions without consequence will better our society as a whole. Some people win, most people lose. The real question is, what can you learn from losing and apply it to your future?

Nevermind, you'll never have to find out.

top 10 reasons for scheduling the first presidential debate for Friday night

Is date night traditionally Friday night or Saturday night? Doesn't matter. I haven't been on one in years. And most of us can't afford to go out anyway. So there's the reason for scheduling the presidential debate for Friday night.

1. Captive audience. No one can afford to go out.
2. Heck, we can't even afford a decent cable package.
3. Netflix, nope. that's gone from the budget too.
4. There's nothing else good on TV.
5. Sleep? Can't. Worried about the state of the economy (luckily, the debate is on foreign policy)
6. Visit with friends? What are we going to talk about ... the election.
7. Jim Lehrer doesn't want to work on the weekend.
8. John McCain doesn't want to work on the weekend.
9. Barack Obama doesn't want to work on the weekend.
10. The debate doesn't matter. At this point, folks are either voting for or against Sarah Palin. Forget the dudes.

Ok, so that's really only got one reason, but man it feels like 10. And so we'll sit on the floor and clutch our children and rock back and forth and hope like hell that McCain says something so completely, profoundly stupid that ... What? What do you think is going to happen, Amy? Nothin. That's what. See point 10 above.