It seems like each day there surfaces a new collapse. Now it is the financial industry that was shaken with the collapse of AIG, Merrill Lynch, and The Lehman Brothers. These major corporations have been the backbone of the financial industry for over 100 years. Their collapse represents a major flaw in our regulatory systems and both parties have been finger pointing to place the blame on the proper party. The support systems that are all interwoven together makes it very difficult to make proper suggestions for a bailout program. The democrats blame the current administration and the Republicans blame the Democrats because they are the ones that have had the political power during the current administration. It is hard to pin down the culprit but we know that greed was the underlying cause of this mess.
How can this be related to the recent dog food scares and recalls. Is it any different? Companies that are searching for ways to use cheaper and less quality ingredients in an effort to make additional profits are partly to blame. Closing their eyes to managing proper quality control policies and allowing the import of ingredients that have not been properly screened have made the biggest recall in pet food history. This is now followed up with a major recall by the Pedigree kibble manufacturer. Suspected levels of Salmonella that may have an impact on the human population. Is greed also involved in this recall? have the standards of production and quality control failed again in an attempt to protect the health and well being of our children and our pets.
What section of our economy or other sections of our daily living will be affected next? We are all affected by the recent hikes in gas prices and food prices. The middle and lower income residents are being squeezed beyond belief and so we sit and wait for the next episode to happen
Those in the real estate business will be quick to relate what effect the market downturn has had on their bottom lines. The trucking industry can sing their tales of woe and declare a state of emergency.
The lawyers are having a hay day handling the events of the day and in general our whole world is in a state of mass confusion, and disruption. Terrorism is mounting new challenges upon us and the situation with the war is another event that could escalate into the causes of financial ruin.
All I can say is—“Why would anyone want to apply for the job ahead to try and reverse this trend.” I don’t care if it is a republican or a Democrat- the promises and speeches we have heard for the last year will all be of no value and an impossibility to support if the current bailout is approved. We are far exceeding our national debt limitation amount and the future generations will certainly suffer the consequences of this wall street fiasco. At the current level, our national debt relates to a $37,000 amount for each and every person in the USA. With interest being added each day- how can we ever attempt to resolve this situation? How can we ever be assured that Social Security will be able to be provided for all that have paid in?
How can we ever expect to implement a national health plan and add to all this debt?
Many crisis’s to resolve and many future ones will surface. It swill be a true test of our people and our ability to survive these disastrous events. It is all the more important in this election year to elect a strong candidate that can lead us through the turbulent times ahead. who will it be????
posted by Rob Mueller