Skip to main content

U.S. Economy in Need of New Generation Robin Hood

$700 Billion Rescue Plan. Passed.

On October 6th, 2008, the global market took yet another huge hit as the Dow plunged below 10,000 points, with effects looming to spread beyond Wall street to what most politicians and financial economist coined as, "Main Street."

It seems the "Rescue Plan" which lends financial firms over $700 billion of American tax dollars is not stabilizing the market, or even fooling investors into committing to it. In fact, most are beginning to repel from the market, due to its unpredictability, as the bottom of the global economy continues to fall out.

$700 billion dollars. A Rescue Plan is what the government has tried to spin it.

However, lets be honest and call it what it is - a bailout. A simple, "Uncle Sam, we messed up badly, now fix it."

It's very much understandable for the reason for this bailout. If several more financial firms fall under- mortgages, 401k's, loans, and employment go with them. And attempting to fathom the destruction, effect on crime, unemployment, and income rate that would have on this nation is endless.

However, it boggles my mind how CEO's received six-figure Christmas bonuses last holiday season when city officials and economists cautioned the trouble waters ahead for 2008. It is amazing how greed consumed many on Wall street, giving loans to just about anyone willing to sign on the bottom line to raise interest rates and lock innocent, financial suckers and/or those looking for help, into lifelong mortgages and credit loans they cannot afford. All with the simple objective of taking advantage of individuals and seeking to make an extra buck upon their already millions.

Yet, although this has been as clear as a tidal wave approaching shore on a crisp fresh morning, our leader claimed, "Our economy is sound."

I believe in a capitalist structure. It has worked. It can work. Although yours truly cannot claim to any financial investment expertise, there has to be something wrong with a struggling middle class paying for the mistakes and greed of established millionaires.

There has to be.

Credit Crisis. Foreclosures. Collapsing global economy. Rising cost of living. Increasing unemployment rate. Decreasing middle class.

I guess our economy is in fact sound.

For the love of money is the root of all evil, and $700 Billion is deafening.

Recently Read Posts

CM Punk's Return - Perfect Timing for the Symbol of Anti-WWE

Looooooooook in my eyes, what do you see?! The lyrics to Cult of Personality, especially that first bar,  never felt so fitting for CM Punk as it did last night.  For the most part, everything that is CM Punk's return to wrestling last night at AEW Rampage ties directly into my latest thoughts on pro wrestling - the company is making it must-see destination television, an element desperately needed from pro wrestling.  Last night was incredible as again, it was another moment that made wrestling feel alive - with a wild and energetic pulse. It was one of the coolest moments in pro wrestling that you knew was coming, expected, anticipated, and it was everything and more. Again, MUST-SEE television. That's hard to do.  For me, it wasn't just Punk's return to pro wrestling, but the mere presence and voice of his inclusion in today's space. We know that Punk can deliver on the microphone - probably his best and most signature attribute. We also know that yes, he can

Sunday Sundown Rundown - 10/10/21

3 Up 1. Moderna Vaccine to Low Income Nations - In a world where the idea of "pandemic" now feels like a state of mind or the privilege of belief, Moderna has decided to aim its efforts in getting at least 1 billion doses to low-income countries the COVID vaccine. I'll save the "vaccine" chat for another time - but this is pretty awesome by Moderna. And oh yeah, highly needed.  2. Candace Parker and Diana Taurasi - Two absolute legends of the WNBA had some legacy-cementing moments this week. Parker lead her hometown Chicago Sky into the WNBA finals, and Taurasi, was named the GOAT of the WNBA by fans. Because well, she is. Congrats to both.  3. Netlfix's On My Block - For the second week in a row I'm putting a personal - and admittedly, biased - selection in the "Up" section. One of my favorite shows by Netflix, On My Block , released its fourth and final season, and yes, I binged it on my daily commute home. Gonna miss the crew from Freeridge.

Thoughts on MLB at Field of Dreams Game

"You'll REALLY like the film. It's a great baseball movie that touches on the father-son relationship - just...just a really good film."  Those were the encouraging words of my father-in-law in regards to the film, Field of Dreams, on the weekend prior to the MLB at Field of Dreams game in Iowa. There were among the few recommendations or positive reviews that I received as the fever pitch (no pun intended - and a terrible movie about the RedSox and Baseball - blah) built toward the game. I, a baseball fan, never saw the movie, or really, had little interest in it.  I finally watched it based on the nudges, excitable remarks, and surprisingly shocked reactions when I mentioned that I never saw the film. And of course, because it would be nice to have SOME context to why the game was special. For me, the film was. well,  it was just there. Good movie - great script for sure. I guess I just never got caught in the romanticizing of baseball that the film elicits for me.

Sunday Sundown Rundown - 10/17/21

3 Up 1. WNBA Finals - The WNBA playoffs are definitely going to be in the running for my Sporting Event of the Year Award. What a series! The Finals were capped off by an amazing game before a raucous crowd in Chicago. Kudos to everyone, especially the amazing story of Candace Parker returning home and winning a chip. Major props to Courtney Vandersloot.  2. New 2022 Quarters - Get ready for your money to diversify - well just a bit. But it's a start! Beginning in 2022, the US quarter coins will feature trailblazing American women such as civil rights activist; astronaut Sally Ride, the first American woman in space; Wilma Mankiller, the Cherokee Nation's first principal woman chief; Adelina "Nina" Otero-Warren, a leader in New Mexico's suffrage movement; and Anna May Wong, the first Hollywood film star of Chinese American descent.