By David Suzuki
I’m not an economist, so when I read the news these days, I find myself going crazy because I just don’t understand what’s going on. For years, two great superpowers, America and the Soviet Union, went head-to-head, one advocating free-enterprise capitalism, the other communism – and the good guys won.
For decades, North Americans have been told that anything smacking of socialism was bad. Indeed, in the U.S. some even feel government itself is an enemy of the people. So government regulation is bad. Socialized medicine is bad. Welfare is bad. Regulation is bad. Trust the free market, we are told.
So what I see is a free market where the main players’ sole function is to make money, and not to provide employment, not to create wealth to provide social services, just to make money, and the more and faster, the better. And boy, it works. Remember Enron?
And now it seems these bright boys in banks had a great idea that I’m too stupid to understand. They believed that the price of real estate will inevitably rise. It was a truth like the second law of thermodynamics. So they arranged mortgages for people with no money and no collateral (some call this NINA, for “no income, no assets”) and then bundled up these mortgages and sold them on the stock market. I’m kinda lost here. And guess what? Property prices faltered, and when the banks came calling, people couldn’t make payments and had to forfeit their property, and the whole house of cards collapsed. But we have a global economy, and this pernicious setup reverberates around the world, so these great scions of free enterprise are now begging the government for taxpayers’ money. Isn’t that welfare? Isn’t that what they tried to stamp out? I just don’t get it.
Another thing: After the oil crisis of 1973 when OPEC flexed its muscles with an embargo, there was huge pressure on Detroit to increase the fuel efficiency of cars. The automakers fought any regulations tooth and nail, but the imposed standards worked, and fuel efficiency rose steadily. But then Detroit found if they put an auto body on a truck chassis, their emissions standards could be those of trucks. SUVs were a money fountain and boy, did they make a lot of money. But then, California politicians decided their pollution problem needed laws to require higher fuel-efficiency standards. What happened? The big automakers, including Toyota, sued California. They’re still suing the state. But now the big three Detroit companies are tanking as gas prices change consumers’ choices. And guess what? The Detroit automakers are begging Washington for money so they can build fuel-efficient cars! I just don’t get it. Would someone please explain it
Oleksiy
It's all about greed and short-sightedness of CEO's of these corporations.
Payday Loan Advocate
With the market in shambles recently, it is becoming tougher and tougher to get a loan. The standards for getting a loan are getting harsh, and limits on credit cards are going down. The worst part is that this might only be the beginning of an already bad situation. Some fear that consumer and businesses will stop borrowing money all together. Most people with good credit can still get a loan if they have a steady job and are not currently in debt. But not all people meet these qualifications and can be accepted for a standard loan. But thankfully for them, payday loans are still readily available to consumers to provide extra cash when they are in need. If something unexpectedly goes wrong and you need money to fix it, but are currently facing financial difficulty, you can still apply for a payday loan with a very high chance of being accepted, much higher than a standard bank loan. All you need to be accepted for a payday loan is a steady income, so that you will be able to pay your loan back. You usually dont even have your credit checked. The best part is that in most situations you will likely pay only about 15% interest on your loan.
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lora bruncke
I am trying to explain it!
Where Have All the Greenbacks Gone
Inspired by Wall Street when the Bubble Burst
Where have all the greenbacks gone?
Shorted by passing.
Greenbacks wall street built upon.
Short while ago!
No greenbacks to play a Pawn?
Gone to experts, Dem and Con.
When will these experts learn?
Explain it so experts learn!
Where have all the experts gone?
None are passing.
Experts get to play the lawn,
With a drink to go.
Jobs are what men base worth on.
Jobs not kids to thrive upon.
When will the mothers learn?
Job share so mothers learn!
Where have all the good jobs gone?
Global passing.
Menial jobs just make us yawn!
Do the job or go.
Big Brain washers wait and fawn,
For profits we work dawn till dawn.
We need profits, fathers learn.
Kids hurt, please fathers learn!
Where have all the profits gone?
Play buck passing.
Balance profit by brains and brawn.
Play fair or go.
Share those greenbacks. GO! GO ON!
Earn your money! Don't wish upon!
When will our leaders learn?
Please help our leaders learn!
Where have all the greenbacks gone?
Lets be passing,
Greenbacks for all to live upon.
Let it all go.
Spend the money to lite the dawn.
How to share! Use brain plus brawn!
When will we ever learn?
Now WE ALL must learn!
Cheers!
Love Lora Bruncke
Steven Earl Salmony
How could one generation go so wrong? Evidently, the leaders in my generation of elders wish to live without having to accept limits to growth of seemingly endless economic globalization, increasing per capita consumption, and skyrocketing human population numbers; our desires are insatiable. We choose to believe anything that is politically convenient, economically expedient and socially agreeable; our way of life is not negotiable. We dare anyone to question our values or behaviors. We religiously promote our widely shared and consensually-validated fantasies of 'real' endless economic growth and soon to become unsustainable overconsumption, overproduction and overpopulation activities, and in so doing deny that Earth has limited resources and frangible ecosystems upon which the survival of life as we know it and the success of any manmade economy depend. My not-so-great generation appears to be doing a disservice to everything and everyone but ourselves.
Never in the course of human events have so few members of a single generation stolen, consumed and hoarded so much wealth at the expense of so many other people. We have mortgaged the future of our own children. We are the "what's in it for me generation". We demonstrate precious little regard for the maintenance of the integrity of Earth; shallow willingness to actually protect the environment from crippling degradation; lack of serious consideration for the preservation of biodiversity, wilderness, and a good enough future for our children and coming generations; and no appreciation of the vital understanding that humans are no more or less than magnificent living beings with "feet of clay".
Perhaps my not-so-great does live in unsustainable ways in our planetary home; but we are proud of it nonetheless. Certainly, we will "have our cake and eat it, too." We own fleets of cars, fly around in thousands of private jets, live in McMansions, exchange secret handshakes, frequent exclusive clubs and distant hideouts, and risk nothing of value to us. We wi
Payday Loan Advocate
Its no secret that the economy is in the trash, and Americans are looking for some kind of relief. We are facing the worst financial crises since the Great Depression; folks are defaulting on their mortgage payments, fuel costs are outrageous, and unless you have a spotless credit history a loan might be out of the question. The middle class is struggling and the notion of the American dream is diminishing. This load doesnt seem to be getting lighter, especially when politicians, who caused this mess, are trying to ban the one thing that could help you out in your time of need. In Washington, there has been a bi-partisan effort to hinder, even ban, the payday loan industry. These politicians tend to accuse the industry with what they call predatory lending. This commonly used term in Washington just shows how out of touch they are from Main Street. Im sure that these politicians dont know what its like to be a single father living paycheck to paycheck while trying to raise two children. A payday loan can be an excellent financial tool if used responsibly, but I guess they wouldnt understand that. With that said, please educate yourself on the issues that affect you the most and exercise your right to vote.