Hey there Washington, it’s me, one lowly American tax payer.
I am formally firing you as my financial planner.
We don’t talk as often as we should. I mean, yeah, I vote the least pathetic choice I can into office (when I’m lucky enough to have two people running to choose from) and every now and then I call you to nag about issues that are important to me. But lately I feel like you’ve been messing with my money and setting me up for long-term failure faster than I can even respond via letters and phone calls, and gosh-darn-it if that doesn’t just piss me right off.
See here’s the thing…and I know, I sure am naive…I was working under the delusion that I lived in a capitalist society. My bad. Turns out I live in a Happietalistic society, we are only free-market when everyone is happy and the markets are going up. There is no such thing as a healthy down for the market, corrections and bubble bursts are impossible or the nation will implode. Doomsday is nigh. Noted. I will adjust my long-term investment strategies accordingly.
I raged when the housing market was blocked from falling out of its bubble by the government. It did no good. I, being only one person, could do nothing to stop you on that front. Even though I think you have made serious errors in preventing the markets from self-correcting and have propped up a broken system.
Sure, we still have a continuing “easy” flow of credit for lending thanks to government funding expected to be up to 200 billion for EACH of the seized mortgage-financing giants, Fannie Mae and Freddie Mac, however we also still have a system in which the initial lending institution has ZERO fiscal responsibility once they sell your note and the attached mortgage. They still have the ability to sell these papers at the final closing of the property. Nothing has changed. Institutions still do not insist on 20% down, they sell notes immediately and make their money on the volume of loans made and the subsequent sale of those home notes to speculators not the interest collected on those loans. (We now own the institutions that are buying and insuring these notes. Sound investments on our behalf wouldn’t you say?)
I raged when we bailed out AIG from failing and I frothed at the mouth at the notion of a company “too big to fail.” Do your job Congress and we will not have companies too big to fail. Why were financial insurance and aggressive lending institutions allowed to be merged into the same corporations? it is a clear conflict of interest and needed government approval to occur. Or the irresponsible bank investments that even the banks did not understand, could never explain and were not regulated properly. (Ummm, Glass-Steagall Act anyone…? You have the authority to stop these shenanigans.)
I raged when the billions (can we finally admit trillion) in knee-jerk stimulus passed with no clear plan or justification, other than, It’s the worst Recession since the Great Depression.” Yup, it’s a Recession alright.
However, let’s retreat from hyperbole for a moment if we may. In this recession I don’t know a single person who has dispersed their family because they could not feed their children. My family and in-laws did just that during the depression. They were so poor, they sent their children away. Not because they were over-leveraged in credit debt ,or living in a house they should never have bought, or forced to stop eating out so many times each week. They. Sent. Their. Children. Away. We are soooo not there, and I don’t think we were close. I think we were close to very, very uncomfortable. A true collapse of an economic bubble and a painful, but needed, market correction. I think my government stopped this natural correction with almost a trillion in stimulus and almost another trillion in brand new currency created. Inflation is coming and we will deal with this in our old age, our children will face the brunt of the storm we could not weather. I am ashamed of our response.
Here is something I do not have to just rage against. I can do something about my principles. Without my permission I am now a controlling owner of GM for the foreseeable future. As an informed an investor I would not have made this purchase, but thank goodness I have the government to think for me and use my money without my consent. I don’t believe you, Washington, when you say you want out as quickly as possible of the car business. My government is not good at the business of getting out of businesses. You sure do like having a saying in things.
I will never buy a GM vehicle while the US Government owns any portion of the company shares. As soon as we are out of the business of owning GM I will consider purchasing one again.
I do not ride Amtrak for similar reasons. I avoid the MBTA as much as possible. (Although I love the concept of public transportation I cannot justify a mismanaged, heavily unionized, government-run program that is operating at a permanent deficit due to what I believe to be illegal transfer of Big Dig debt which would never have occurred if the system were in private hands.
I think the government subsidies to the airlines should be illegal and free market conditions should apply there as well. I am well aware that this would raise the costs of airline travel. I think it should cost more. It is an extraordinarily inefficient system that the government is propping up with 155 billion of my tax dollars without my permission. Force them to adjust, and if it cost more maybe Americans would find alternatives and we might finally develop a rail system worth a damn.
With this latest foray into cars my government is now the controlling interest in EVERY sector of transportation. (I don’t even have the mental fortitude to talk about farm or energy intrusions and how angry they make me.)
I reserve my right as a concerned American citizen to say as politely as possible, screw you Washington.
I can and will still work to fight large government and control spending. One little tax payer’s actions at a time.
There will be no GM’s or Chevy’s in this family for a while.
There is a difference between government and private sector working together to improve transportation and overstepping your bounds. It’s a subtle line so I am not surprised you missed it Washington. Subtlety’s not your thing, is it? You’re still missing the fact that nearly 35-40% of Americans are in the political center and not truly part of either party. Good luck keeping us election to election as you run rough-shod with your “mandates”…It worked well for the last administration…It should work well for this one too.
(p.s. the Republicans did their best to lay claim to those “tea parties” but they had nothing to do with the Republican party. It was the beginning sparks of an anti-big government movement that has no religious right social context. They were pseudo-Libertarian in nature and really pissed at the way BOTH parties have increased the size of government with no signs of stopping. Democrats, you have a potentially serious centrist grass-roots movement on your hands that you ignore or marginalize at your own peril.)
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In case you missed it, I am a FIRM believer in capitalism and American resilience. Let these two mighty forces do their work, they will not fail us. Yes, to let it do so would require sacrifices…nothing ever comes easy I am afraid, and therein rests the crux of the problem. If it ain’t easy…
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