Everyone should watch the episode of Frontline: Inside the Meltdown that aired Feb 17, 2009. It gives a great chronological of what lead up to our current economic crisis. What really gets me, is how there were certain people (think Ron Paul) saying that this event would happen back in 2007 or earlier, yet they are and were ridiculed for sounding the warnings about an imminent disaster. Hindsight may be 20/20 as the old saying goes, but it does not make any difference if you don’t learn from the experience.
We will continue to see the same problems over the next few years, only worse. As I write this, the DOW sits at 7495(!!!) and people continue to lose their jobs, homes, and savings. Yesterday our new President Obama has signed into law another bailout bill, and by the market’s reactions, it is probably not going to help. Many of the same people who’ve gotten us into this mess in the first place are still in positions of power in both government and private industry. The fools in the US Government continue to give $BILLIONS$ (In reality it’s now in the $$TRILLIONS$$) to their old pals in the private sector that caused this mess through greed and corruption. Now millions of American tax payers for generations to come will suffer the consequences, while these greedy bastards continue to live the good life.
There are many people who feel they have the solution to our problems. Truth is, nobody knows what the best fix will be, but I can tell you printing money and giving it away to the same people who fucked us in the first place, is not the solution. Harder times are on the horizon.
Please enjoy the episode of PBS’ Frontline: Inside the Meltdown. Encourage others to see and understand how this mess has happened, and continue to educate those close to you.