Sunday, February 22, 2009
The Next Tea Party
A lot of people think our present financial crisis can be blamed on one political party or the other. The Republicans did this, the Democrats did that, and from there you have a raging argument. Once you accept this premise, you vote accordingly, its payback time. Anybody with a political ax to grind has plenty of fodder and a good share of devoted listeners. Kind of a real waste of time.
If we jump back to a President that was qualified to lead in recent history, I would pick Eisenhower. The guy ran a world war machine that defeated the Germans. He knew what sort of logistical costs were involved in moving thousands of men to a foreign land. His concept of getting something done, had to have answers on how to keep these men supplied, logistics is the name of the game in any successful war plan. His decisions were weighed in men’s lives not political BS.
With the present financial mess, I think Ike would have come to the conclusion, we cannot successfully support the banks, it’s logistically impossible. They have to fail and be taken over. Too big to fail means that they should have never been given the chance to get that big. Pay now, or pay later.
We need to fix the present mess and doing nothing is a viable solution. Rick Santelli’s comments from CNBC put it out for everyone to see. Why do we have to pick up the bill for these losers? The rebuttal from the White House Press Secretary was in the clouds. He would have had more credibility announcing that his kids had just won a Posturepedic bed wetting contest. This press secretary needs to take some public speaking lessons, “um” is not something you slip in every third word. The guy reminded me more of a rest room attendant handing out towels; not sure of why he's there or what he's suppose to be doing.
The financial commentators on CNBC are not dummies, they have interview hundreds of people and in their own right, have good financial acumen. Mark Haines has been grilling some of these financial pundits and exposing their narrow comprehension of the situation. It's fun to watch.
I think that we are seeing a consolidation of what the financial commentators consider a solution. The crap has to be marked to market. The banks need to fail for that to happen. If the process is speeded up, it is the foreigners that have the most to lose; they are the ones currently pulling out their money with no loss.
Doing nothing is a solution. What do we have to lose? The country is broke as it is. The bail out money has to be printed and we all know that. Rick Santelli called for a "Chicago Tea Party." Here's a Link to it. Congress needs to wake up and read the tea leaves!