Thursday, September 17, 2009

no such thing as a jobless recovery

Ok, let me get this out the way, I am sick and tired of this wagging the dog health care debate. A few weeks ago, I pointed out that 80 banks had failed. As of yesterday 91 had fallen victim to poor fiscal responsibility and lack of federal and state over sight.

I still see no real change or attention focused on our economic quandary. Seems to me even the general public doesn’t care. I mean I suspect most folks are employed so really do not have a vested interest in the issue, unlike me who has to pay himself as a small business owner and one who sees business after business around me close and vacant retail space amass like bubbles in bath water. I have patiently been trying to give the current administration a chance to show some balls and actually take this bull by the horns and make some real structural reforms such to get our financial system stabilized and to squash this problem. How ever, Obama has done much to do about nothing from my objective prism. I mean, I’m tired of this “to big to fail argument” that is recanted like some type of witches spell without defining what to big to fail means or describing the process by which such a determination is made. We have had 9 big bail outs over the last score of years and yet our current president still replicates the stupidity of a man who said that he was “suspending the principals of free market to save free markets” – George Bush. Obama has made no structural changes with respect to what has gotten us in this position and even worse, has the same minds over the problem who contributed to this problem.

I know that health care reform is his baby, but who needs or can afford health care if one is broke? Not me, gimme some loot and the ability to make loot. All the money you gave to big banks cant be accounted for and isn’t doing what the present administration described it would – restore credit and lending and remove toxic assets off the books of banks who got our loot. This incessant focus on health care is not as essential as focusing on the economy and anyone who disagrees can kick boulders barefooted. Unemployment is at a 26 year high and all I am hearing is shit about a public option and illegal aliens. Teen unemployment is at 25 percent and speaking of toxic assets, we still don’t know what is on the books of these banks we gave our loot too. I’m not the sharpest knife in the drawer but I can speculate that toxic assets in the form of retail commercial real estate that has lost maybe half their value and credit card receivables that I am sure have declined due to folks loosing their jobs or houses, have decreased as well.

Folk, I was born here and this descendent of slaves cares more about me being able to feed my kids than getting a H1N1 vaccine. We cannot bail out folk with non performing assets yet over look us at the bottom of the food chain. I do not know if Obama really cares more about health care or the bank lobby is really that strong. What ever the case, I know that credit markets are still frozen and that the artificial bubble we see in the stock market may be a function of the poorly thought out “too big to bail” mantra. Please show me some or at least one new regulatory reform. Mr. Obama your administration aint done jack, nada. I want you to succeed but your inactivity and bush economic copy catting aint gone do nothing because we will see more bank failures due to commercial bank failures for the next few years. Ones, don’t give the FDIC more of my money if you do not take this seriously, for I firmly believe that I do not need health care if I cant pay my mortgage, feed my kids, and I am broke. Aint no such thing as a jobless recovery mane.

PS – will deal with them racist over the weekend

21 comments:

Pigskin Loving Lady said...

As I go through the bullshyt with my mortgage company I can only shout, PAY ATTENTION!!!! and...WAKEEE UPPPP!!!!!

Keli said...

There needs to be more talk about the economy and how the gov't plans to get us out of this mess...

but wait...do they plan to get us (The US) out of this mess?

I do not have a steady paycheck, so yes, this does concern me.

I am not sure why health care is his baby...seems like he's picking up where the Clintons left off...

right now the Obama's admins focus seems to be in all the wrong places.

RiPPa said...

The Glass-Stegall Act was passed years ago, and look how long it took for it to pull us down. This ain't no overnight quick fix folk, but I feel your pain.

Jay Midnyte said...

You gon get the regulation soon, just not the RIGHT regulation

BuelahMan said...

That man no more gives a fuck about the people of this country than the previous fuckheads did.

Obama is owned by the Bankers and Healthcare. OpenSecrets does a great job in tracking the money.

All the small banks are being allowed to be swallowed up by larger ones, even when that particular bank did not participate in the bogus shittery they did.

It is the Elite going after all the marbles, Dawg. The fix is in and they are going to take as much as they can before it all falls apart.

They don't give a fuck about regular people.

http://buelahman.wordpress.com/2009/09/11/who-owns-you-2/

Torrance Stephens - All-Mi-T said...

Pigskin Loving Lady
so true UPPPP!!!!!


Keli
dont know body but folk like use reall understand

RiPPa
Clinton obviating Glass stegall got us in this mess, not to mention
him signing into law nafta and the commidity futures modernization act. and still the SEC act dont apply to congress or senators - who make more stock profit off inside trading than wall street


Jay Midnyte
who u telling

BuelahMan
yea man and folk like us will likely be on some MJTF security risk list soon

nicki nicki tembo said...

Yeah you keep being patient. I could give a fuck about Obama succeeding, especially at my expense. Fuck him and the horse he rode in on. Same goes for his predecessors. I'd pull for him if I thought he was pulling for me. None of the three branches are doing the work of the people. And why should one continue to believe that they will? Delirium affects the brain and weakens it.


You what Torrance? Democracy demands an electorate that is cognizant of what is going on in the world so that we are able to see through to the end results of these unconstitutional acts being perpetrated against we the people. It's a shame that most don't get it or care.

Rich Fitzgerald said...

Mane, you said a mouthful, but it's all on point.

KELSO'S NUTS said...

Any ideas about how we should go forward with the RDB show?

Anybody with strong opinions on anything feel like taking a swing at being EP of the show in Babz´s abscence?

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