In the U.S. for the last three decades we've had 1920s football/frat house culture as well as 1920s Wall Street bubble/fraud/greed. Well, the party's over today and the stock market is crashing in the U.S. and Europe.
Actually, I've thought the people like Bush and Paulson who go around saying that Congress must pass the bailout or the sky will fall have been first creating fears and then manipulating fears to pass their terrible bailout. Some good things have been happening. The globe in the last few weeks has people using less oil--a good thing as it lessens global warming. The people who created the bubble and frauds in Wall Street have begun to be exposed. People in the United States have been spending less and saving more--a good thing. But now we have to deal with our many problems starting with tent cities growing up across the nation. These people need to be put in homes.
I'm not underestimating our economic problems--the economy lost 760,000 jobs this year including losing 159,000 jobs in September. People move to Reno to try to find casino jobs but no jobs so wind up in tents. They move to California for jobs but no jobs. New York Times reported Friday people in Nebraska are beginning to abandon children as they did in the Depression. We have tent cities going up outside Los Angeles and Reno and other places.
We have a leadership crises where leaders of both parties have been pushing hard for a terrible $700 billion bailout. We have a mass media which focuses on trivia such as Sara Palin's wink rather than she did a dreadful job on the debate last Thursday. When asked what Palin would do about the mortgage crises, she ignored the question. Her recipe for improving the economy is a tax cut as she repeated during the debate a tax cut creates jobs. That's total idiocy, particularly in a month where 159,000 jobs were lost. We've had eight years of Bush tax cuts and lost millions of jobs. Tax cuts do not create jobs. Palin flunked on the debate. Palin should get the Herbert Hoover award for the dumbest comment made about the economic crises. It's time the mass media stopped being so incredibly stupid in how they write about her.