Featured Quote

In 1913, Henry Ford wrote the following as the directors had been reaping the rewards of profits - "The wages we pay are too small in comparison with our profits. I think we should raise our minimum pay rate".

Monday, October 25, 2010

Economy and Air Baths

Looking into matters further, it appears the economic collapse is more complex than I had imagined.  It is not the sole responsibility of the Republican party - although it is Republican Policy.  What led to the problems? Deregulation and Non-Regulation.  Done by a political consortium with members of both parties.  And it started in the Clinton era, and allowed to continue during the 8 years of Bush - and made worse by his wars.

Democrats were too hungry to give assistance to the poor and made bad decisions with Fannie and Freddie, Republicans were too greedy and deregulated wall-street and Gramm made sure regulators couldn't touch the ultra risky financial creations that were ultimately the coffin nail for the economy.

Oh, and a fair amount of blame can be placed on people who believed in the "American Dream" too.  Thinking that Home Ownership was within reach and working hard all day every day would ensure your security!  And the bankers let you think that long enough to get their profits and clear out.

I still do not believe that the Republican policy of granting unlimited power to the corporations and profit-mongers while cutting the hamstrings and shackling the wrists of the middle class working citizens will be a viable solution.  I still hope that they never regain power.

I strongly feel the only valid solution to this problem is a strong, reasonable, intelligent third party taking control of the system. (found this interesting - "The tragedy here is that if voters do turn on Democrats, they will in effect be voting to make things even worse.")

I will follow up with my solutions to our problems.

On to the Air Baths!!
I would like to say that I am in great company in my propensity to engage in long and wandering Air Baths.  I do hope that the blogger's hope of a return of the best and brightest to government service is coming.  Third Party all the way, with a tip of the non-existent hat to Ben Franklin.