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Re: Federal Reserve Note (Dollar) is just an I O U Anyway
Author: OldPoleBurner
Date: 07-05-2009 - 00:45
> aren't California's problems stemming from the nation's problems ...
Actually - It's quite the other way around! As in the last two recessions, Kalifornica lead the nation into recession, and took the worst hits back then; this time, with its unsustainable housing prices, caused by unsustainable and stupid environmental restrictions (the people came anyway). All of which, of course lead stupid politicians in both parties to stupid regulatory concessions, so that the financial industry could keep on lending stupid and deceptive unsustainable loans to unsustainably over-priced markets.
Why were we so surprised!
Yup - it was primarily us stupid dummied down Kalifornicans that were willing to pay just about any stupid price for just about any stupid thing - just because WE WANTED IT - NOW! Of course a few other "high demand" states jumped in on the band wagon too - but for the most part, Kaliphony lead the nation down this rat hole. -- AGAIN!
Of Course, the first institutions to fall prey were the weak ones (the law of the jungle still applies here - always will - democrat claims or not) like GM, AIG, various financials, and banks, all weakened by the government pumping up the bubble (banking deregulation started in 1979, and was on steroids by 1992)
Of course, those same stupid politicians then just had to compound the problem by tying up another trillion or so in deregulated bank vaults somewhere - rather than bailing out the economy where the problem actually started, and continues to worsen (defaulting unsustainable home mortgages - why can't they be re-written to something sustainable). So what has changed here since the last election --- So Far, notta da-- thing pertaining to economic recovery or stabilization!
Just Nationalization of industries already made weak by previous gov't policy - and collapsed by current policy! And then forced (by gov't fiat) into unnecessary closing of several hundreds of otherwise profitable retail businesses employing many tens of thousands (so much for any nice new jobs that we were once promised?).
But of course, what the he-- does any of this have to do with railroads?
Only that they well could be next! First weakened as an institution by their own lack of competitive access for their customers, and shear dead inertia as well. Essential things such as universal common carriage by rail are almost dead already. Then further weakened by stupid politicians doing stupid stuff pretending to fix everything. Finally - partial or full nationalization to solve everything caused by those same stupid politicians (I presume it's just stupidity and not deliberate!) The pattern here is obvious!
I hope I'm very very wrong here (that we will soon turn away from this madness), but currently, I have no reason to believe that we will. And who or what could we turn to anyway!
But As before, if the nation as a whole does in fact, straighten out and fly right, Kalifonia will lag behind - dead last! - just as in public education (chronically).
I think I might just retire - and join the hundreds of thousands who already had to leave - and thus prevent those thieving California politicians from taking any more of that hard earned retirement away. Something to think about anyway - and soon!
OPB
Actually - It's quite the other way around! As in the last two recessions, Kalifornica lead the nation into recession, and took the worst hits back then; this time, with its unsustainable housing prices, caused by unsustainable and stupid environmental restrictions (the people came anyway). All of which, of course lead stupid politicians in both parties to stupid regulatory concessions, so that the financial industry could keep on lending stupid and deceptive unsustainable loans to unsustainably over-priced markets.
Why were we so surprised!
Yup - it was primarily us stupid dummied down Kalifornicans that were willing to pay just about any stupid price for just about any stupid thing - just because WE WANTED IT - NOW! Of course a few other "high demand" states jumped in on the band wagon too - but for the most part, Kaliphony lead the nation down this rat hole. -- AGAIN!
Of Course, the first institutions to fall prey were the weak ones (the law of the jungle still applies here - always will - democrat claims or not) like GM, AIG, various financials, and banks, all weakened by the government pumping up the bubble (banking deregulation started in 1979, and was on steroids by 1992)
Of course, those same stupid politicians then just had to compound the problem by tying up another trillion or so in deregulated bank vaults somewhere - rather than bailing out the economy where the problem actually started, and continues to worsen (defaulting unsustainable home mortgages - why can't they be re-written to something sustainable). So what has changed here since the last election --- So Far, notta da-- thing pertaining to economic recovery or stabilization!
Just Nationalization of industries already made weak by previous gov't policy - and collapsed by current policy! And then forced (by gov't fiat) into unnecessary closing of several hundreds of otherwise profitable retail businesses employing many tens of thousands (so much for any nice new jobs that we were once promised?).
But of course, what the he-- does any of this have to do with railroads?
Only that they well could be next! First weakened as an institution by their own lack of competitive access for their customers, and shear dead inertia as well. Essential things such as universal common carriage by rail are almost dead already. Then further weakened by stupid politicians doing stupid stuff pretending to fix everything. Finally - partial or full nationalization to solve everything caused by those same stupid politicians (I presume it's just stupidity and not deliberate!) The pattern here is obvious!
I hope I'm very very wrong here (that we will soon turn away from this madness), but currently, I have no reason to believe that we will. And who or what could we turn to anyway!
But As before, if the nation as a whole does in fact, straighten out and fly right, Kalifonia will lag behind - dead last! - just as in public education (chronically).
I think I might just retire - and join the hundreds of thousands who already had to leave - and thus prevent those thieving California politicians from taking any more of that hard earned retirement away. Something to think about anyway - and soon!
OPB
