JohnsBlog (articles, news, thoughts, advice)

Well it's been a while since approval for the $700 bailout bill has come and gone, and what have been the results thus far?  A rate cut, job losses, corporate bankruptcies, and further stock and bond market turmoil.  Good job congress!  Good thing that lost $700 billion isn't coming directly from your pockets, otherwise it may have taken some more time to consider the decision!

The $700 billion congress offered to bailout financial institutions was clearly designed to increase liquidity and loosen the stranglehold credit was placing on the market...financial institutions and those extended credit clearly had other intentions.  Lending has not increased nor have guidelines and stricter credit requirements slackened, not one bit.  Rather, AIG execs and top people have been to several (at least 2) extravagent getaways as a reward for...umm success?  perhaps increasing profits?  maybe strengthening the companies position as a financial giant to be admired by all others?  Nah, couldn't be those.  Maybe it was because heck, the taxpayers are now footing the bill, may as well get their moneys worth!

In addition, Citibank has announced they'll likely be laying off an additional 50,000 employees as they continue to most large losses.  Auto "leaders" GM, Chrysler, and Ford are now seeking their own bailout, which is running into strict GOP opposition.  The catch-22 in that scenario is 1) Do we continue this selectively socialist campaign of bailing out "vital" companies and allow the government to continue treading all over the free market, or 2) Do we allow these 3 to go bankrupt, adding even more unemployment and financial instability to the very core of the economy? 

Tough decisions, and ones I'm glad I don't have to make.  The real problem with all of this is the fact that the suits of wall street aren't the ones being hurt the worst...it's really the blue-collar workers and the middle class (the US does still have a middle class between the poor and the wealthy, right?  answer, anyone?)  that are getting pounded here, and it's likely to continue as these big bankers and financial giants throw their weight around to prevent further losses.  Anyone find it amusing that they want to fend off "losses" by helping people lose their jobs?  Didn't think so.

EXTRA CREDIT PROJECT...it's long, folks, yet very interesting stuff...the Zeitgeist film...believe what you will and take it for what it's worth, but this 2 hour flick along with some research reveals some craziness.  Scary thing is many of the "conspiracy theories" shown in this film make all too much sense when analyzing todays market environment.  Check it out! 

http://www.zeitgeistmovie.com/

Well the election is a week over, and it's about time.  Every 4 years it seems like the ONLY thing reported in the news is political...and it's mostly negative, so I'm glad to see it come to an end.  I'm also pleased with the results, or at least pleased with what I hope will be the results.

I couldn't confidently give McCain my vote when 90% of his campaign was attack material on Obama, and it harped on the same few topics over and over and over again.  What finally pushed me over the edge was the appearance on Saturday Night Live by John and Cindy McCain and Sarah Palin.  A network show which bashed the VP candidate repeatedly (and very well, might I add) with Tina Fey impersonations clearly was poking fun at the GOP candidates worthiness of their post.  In the past they've mocked George W Bush repeatedly, and Im sure these comical renditions are not done out of amour for these political figureheads.  McCain and Palin were so desperate to gain public eye, they actually went on the show and mocked themselves.  While everyone should be able to laugh at themselves, going on a comedy show the week before the election showed desperation and a lack of focus on the important topics. 

I could go on and on with a list of reasons Palin was un-qualified, and with McCain being quite old, there was a very real chance she could have been the leader of the free world...scary for someone that doesn't know Africa is a continent, scary for someone that would take a phonecall from a random person and pretend to know who they and their family are...incredibly fake, incredibly sad.

But alas, we have a new President elect, and for the first time in history it's a non-caucasian male, which is a nice change.  Although there is still plenty of racism evident throughout the country, especially in the deep south, it's nice to see the majority of the country seeing through the race line.  I think Obama is eloquent, intelligent, and a good choice to lead we the people through these tough times.  Hopefully he'll keep his word and not allow taxes to increase, hopefully he'll keep his word and end this money and life wasting war, and hopefully his term will end in what history will consider a success....that would mean our country being in better shape when he leaves than when he gets there in my opinion, and if those guidelines aren't met, we're all going to be in a lot of trouble.

So congratulations to Barack Hussein Obama, may luck and the American people be by your side throughout your first time as you try to turn this country around with the change you've so often promised.