Republicans like Rep. Eric Cantor don't realize it just yet, but they just handed the keys to the kingdom to the Democrats. And if Democrats don't get the cooperation from the GOP on Thursday, they will use those keys in crafting their own solution giving the people what they expected, and then let Republicans balk and wear the consequences for a failed economy for decades to come.
There is much debate and discussion about what is at stake regarding our economy and this bailout of wealth institutions who have gorged themselves on the profits of bad loans, collateral, and absence of prudence in managing that wealth of others. But, no one is telling the truth about what is at stake, or why these politicians are working feverishly with little sleep night and day. What is at stake is what no one in Washington D.C. wants uttered in a public forum. But history is not so silent about what is keeping them all up at night.
There is nothing as depressing as to be right about calamity foreseen and have such warnings go unheeded. To see what is coming, take advantage, and walk away, allows one to feel intelligent, profit from the knowledge, and avoid looking back at the suffering of others who didn't see what is happening. This, of course, would be the corporate executives and Republicans in power who fought against regulation and oversight since 1994, and won.
The growing number of government loan guarantees and bailouts of failed corporations and financial institutions is nothing short of a conspiracy between elected politicians and wealthy special interest power brokers to steal tax payer's dollars without representation. More than 230 years ago, Americans engaged in a Revolutionary War for this very same crime of government. Wimpy Americans today are more obsessed with race and gender of their elected officials than being ripped off by them.
Few off Wall Street are paying attention, but, there are fundamental structural changes taking place in our economy, that are going to require new economic models, metrics, and updated economics education if anyone is going to manage the economy well for Americans. The consumer backbone of our economy is yielding to exports and business consumption, even as the consumer's role in products and services shrinks.
