Are we back on the road to financial ruin again?
Gasoline prices went through a recent period of rising rapidly. We are told it was not because of increased demand or the cost of crude, but that the financial institutions (Wall Street, speculators, banks, etc.) are at it again. They're side-stepping regulations in place to prohibit commodity investing in such things as pension funds, endowments, oil, hedge funds and other risky propositions.
Some of them may or may not have had bailout money from us taxpayers, with an incentive to create jobs and a manufacturing base to put good, old USA back on top in the world economy. Hard labor, ingenuity and the ability to produce what we need to survive have provided us with a standard of living envied by the rest of the world. These incentives have worked for 200-plus years. Why should we now allow a few greedy individuals and organizations to take this away from us with the stroke of a pen and a piece of worthless paper?
For those of us who remember World War II - "Rosie the Riveter," "Uncle Sam Needs You," the transformation of the auto, aircraft and agricultural industries and manufacturing plants to defense production - I say a very hearty thank you to all who sacrificed for this cause.
My question now is who will help us to build this equipment if a similar situation should arise in our world today? Billions were given to financial institutions with no questions asked or stipulations placed. Meanwhile, considerably lesser loans to the auto industry are burdened with directives, time limits and threats of bankruptcy. This urgently needs explanation.
I don't think China, Japan, Korea, Mexico and others will readily provide what we need and support us as the "Good Old USA" citizens did back then. It scares the dickens out of me. How about you?
Gasoline prices went through a recent period of rising rapidly. We are told it was not because of increased demand or the cost of crude, but that the financial institutions (Wall Street, speculators, banks, etc.) are at it again. They're side-stepping regulations in place to prohibit commodity investing in such things as pension funds, endowments, oil, hedge funds and other risky propositions.
Some of them may or may not have had bailout money from us taxpayers, with an incentive to create jobs and a manufacturing base to put good, old USA back on top in the world economy. Hard labor, ingenuity and the ability to produce what we need to survive have provided us with a standard of living envied by the rest of the world. These incentives have worked for 200-plus years. Why should we now allow a few greedy individuals and organizations to take this away from us with the stroke of a pen and a piece of worthless paper?
For those of us who remember World War II - "Rosie the Riveter," "Uncle Sam Needs You," the transformation of the auto, aircraft and agricultural industries and manufacturing plants to defense production - I say a very hearty thank you to all who sacrificed for this cause.
My question now is who will help us to build this equipment if a similar situation should arise in our world today? Billions were given to financial institutions with no questions asked or stipulations placed. Meanwhile, considerably lesser loans to the auto industry are burdened with directives, time limits and threats of bankruptcy. This urgently needs explanation.
I don't think China, Japan, Korea, Mexico and others will readily provide what we need and support us as the "Good Old USA" citizens did back then. It scares the dickens out of me. How about you?
