Saturday, March 14, 2009

Financial Crisis Priorities

"We did not have a housing bubble collapse because we don't have a national health insurance program. We don't have toxic waste clogging the balance sheets of the banks and other financial institutions because of carbon emissions. . . . [W]hen your house is on fire, you don't water the lawn." Michael Barone says that the first priority in Washington must the the financial crisis, the real problem at hand.

Meanwhile, Mark Steyn tells the news to American's hopey-changey youth: "When you come to take your seat at the American table (to use another phrase politicians are fond of), you'll find the geezers, boomers and X-ers have all gone to the men's room, and you're the only one sitting there when the waiter presents the check." And the Teleprompter Kid? "This is the guy who keeps telling us this is the worst economic crisis in 70 years, and it turns out it's just a 1-percent decline for a couple more months, and then party time resumes?" Steyn also reveals the unmentionable fact about the carmakers, "General Motors has 96,000 employees but provides health benefits to over a million people. . . . GM is a welfare project masquerading as economic activity."

But not to worry, it's all good and spin will care for us all. Over at the Daily Kos we are counselled that "The biggest reason to be optimistic may just be the fact that the blowhards on CNBC and Fox still think the sky is falling." How clever is that?


Anonymous Toronto Real Estate said...

Interesting article, of course once the crisis is over we need to start working on some ideas how to prevent another crisis like this one. How to be immune to the bubbles which when they burst a disaster like this one happens. This all could be solved by a simple financial aid programs for each private sector financial institution. Saving up money so it can be used in tough times and not affect the market.

Take care, Julie

Mar 15, 2009, 11:10:00 AM  

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