economic crisis

those of you who listen to me rant know i already predicted this shit, but for the sake of making known my opinions, i will reiterate as simply as possible.

in a free market system, there are bound to be ups and downs. mismanaged companies are going to fail. demand for certain products will drop. dirty deals will have repricussions. get the fuck over it. its not governments place to jump in and buy up all of the mismanaged shit to keep people from losing jobs. its not governments job to place miles of red tape around simple transactions our economic system was founded on.

heres the situation put rather bluntly. the internet and technologies industry provided a huge boom in our economy (it wasnt bill clinton who was responsible for the surpluses; it was the times in which he was president. either party wouldve seen growth). at the beginning of the new millenium that bubble burst and with the attacks on september eleventh it looked as if the economy might start nose-diving. it wouldve sucked, but it had to happen. but instead of letting it run its course, the then-president of the federal reserve decided to pump in hundreds of billions of dollars that didnt exist (he can do that. our currency is a sham read the blog a couple days below) and it delayed the recession. it was still bound to happen. it was just going to be worse because our currency would be devalued a little more. then the subprime shit started to catch fire. then the banks and mutual funds who invested in real estate started to buckle (it turns out even real estate can depreciate. who wouldve thunk it?). now the government wants to put it off again. it will happen and the more we let it snowball, the worse we're gonna have it later.

my solution: incentivize private participation with tax eliminations on rent and capital gains on real estate. reform the tax code. let shit run its course and rethink this whole full faith and credit deal.




hope you are well esha.