The End of Prosperity

If you don't remember your past you are doomed to repeat it. No truer words were ever spoken. The direction and our congress's action to date are following a dead end script which history tells us that is doomed to failure. This has also been deemed a "comprehensive failure of capitalism". Capitalism did not get us into this folks, panderer's, and greedy politicians got us into this mess. The rest of us had no idea this was happening, no say in why or how it happened, and then when the economy hit the fan, they blamed corporate America and capitalism. What a giant lie. And now Washington expects us to lie back, foot the bills, and then be "patriotic" and adjust our lifestyles to a 50% plus tax rate while those in Washington give up nothing. How is this fair government? I am tired of this attitude of redistribution of prosperity through a legislation of morality strong-armed by the reasoning that we are incapable of making cogent decisions and managing our own lives. When will it ever be enough? When, if ever, will the political thirst for the sweat and blood of the common man be sated? And now we face another tax crisis reminiscent of the Carter-era debacle.
Back in 1930, the Senate passed the Smoot-Hawley Tariff Act, which raised duties on roughly 20,000 imported goods. Historians refer to this as one of the critical steps that led to the Great Depression. A tipping point when the world realized that partisan self-interest had overrun leadership in Washington. And now America's lawmakers could do it again. The bursting of the debt-fueled property bubble and the crippling losses suffered by banks, together with the political meddling of recent days, have set in motion a chain reaction that, in the worst-case scenario, could lead to something like a 21st century version of the Depression. Even our bailout package, I feel, will only help those whose interests tie directly to the white house and senate; and now Pelosi is trying to pass another $350 billion. I don't think congress knows the difference between a million and a trillion anymore. And now we are headed for a possible situation of hyper-inflation, which is too much money in circulation chasing too few goods. Where I'm going here is economics 101, this cant work and it wont work; history in many cases worldwide, shows us what were heading for and we are in the trunk hog tied and gagged while congress is driving us off a cliff.
Banks and other financial institutions are in an even worse position: their debts are stacking up even faster. By 2007 the financial sector's debt was equivalent to 116% of GDP, compared with a minuscule 21% in 1980. And the assets the banks loaded, along with falsely stated earnings thanks to the wonderful leadership of Franklin Raine's, up on have fallen even further in value than the average home; even by as much as 55% in the case of average rated mortgage-backed securities. Anyone who has any doubts that the U.S. is heading for recession is living in denial. On an annualized basis, real retail sales and industrial production are both declining. Unemployment is already on the rise, and the question is whether we're headed for a short, relatively mild recession like that of 2001. Or a latter-day version of what the world went through in the 1930s: Depression 2.0. In reality, and a sad one, in a time where PC ideals, pandering, special interests, and package deals targeting to low income families and illegal aliens, we need a leader not a navigator. Not someone who says there "for" this in in Texas and then "against" it in Michigan. Someone who feels so strongly about what he knows is right that he is willingly to stand his ground knowing that not everyone will agree or stand behind him. Instead we have these two spineless "yes" men who are trying to be all things to all people and that will never work. Our way of life is being crushed under the bureaucratic weight of a hungry juggernaut that is deaf to a nations cries of "stop! please stop!" yet they continue to tax, and spend, and line their pockets and walk away Scot-free. I read blogs and articles stating this candidate is right on this, or I stand behind this candidate on this issue; look.....none of these candidates on either side give a crap about you or what happens to you. The recent events show that with a runaway corrupt government spending like a drunken sailors on shore leave with blatant, and i mean BLATANT disregard for the law, the constitution, and the people. Now of both of these dead-horse candidates, do we really want higher taxes and a spreading of the wealth where my hard work and self-achieved prosperity through sacrifice and perseverance is trickled down to those who are in their situation due to their own decisions and mistakes and misfortunes? And I say this not with a callous heart but with a conscious eye. Really, how many of us have gone to the supermarket or wal-mart and seen people at the bus stop with am iphone, ipod, both, or sporting outfits that are clearly out of their bracket? I saw a gentleman here in a wal-mart buying $200+ dollars worth of groceries with a government provided pre-paid credit card used only for food (lonestar card) while was sporting hillfiger pants, ostrich skin boots and a polo shirt, too busy to address the clerk ringing him up because he was on an important call on his blackjack smart phone. This is the state of the crooks, the nanny-state, the loafers that we finally need to take off the government tit and say start producing or suffer your the consequences of your own bad judgement, stop billing me for your misfortunes, NO ONES BAILING ME OUT!!!