Monday, July 13, 2009

Two Years Ago

"This is far and away the strongest global economy I've seen in my business lifetime."

-Hank Paulson soberly planning for contingencies, July 12, 2007


Anonymous Anonymous said...

It isn't so bad now for the "average globetrotting"... And it seems like they'll strangle the rest of us to keep it that way.

Few can argue that it wasn't Wall Street who dropped the bomb on our economy, with the aid of Paulson and others at the helm. But I can't help remember what Dent and other folks have been saying for some time now about demographics. They were predicting the next 10 to 15 years were going to be low growth.

Which maybe is contributing to this: "In other words, people are speculating on derivatives and derivatives of derivatives because there's no action in the real world."

Awhile back I read a NYT's article about a dentist who travels around the US providing services for free. Teeth are so bad, he has to pull them. People so desperate they use superglue to repair teeth. They have access to french fries, but not fresh potatoes. Cheap sugar in soft drinks contribute to their Mountain Dew mouth. Bill Moyer interviewed Wendel Potter, an Insurance insider whistleblower who testified in front of Congress last month. He showed the work of "Reach Across America". People standing in lines as long as you can see, to be treated at a Fairgrounds. US citizens were being treated in cattle stalls.

I think this said it best, "The level of need is hard to believe until you see it up close." So the wealthy, politicians, the media conglomerates will make sure we don't.

7/13/2009 5:05 PM  
Anonymous primob said...

So, anonymous, what is your prescription to cure all our ills?

7/13/2009 7:50 PM  
Anonymous Anonymous said...

Step #1 primob

Stop the denial

Step #2 primob

Expose and then stop the cover ups

Because without step 1 in that order primob step 2 beomes useless..

Do you deny this?

7/14/2009 11:45 PM  
Anonymous primob said...

The usual "feel good" prescription. So we get full transparency, then what? Is it possible to eliminate misery?
Is there an effective prescription to significantly reduce the misery you describe, or are you trying to sound intelligent by prescribing what is obvious?

7/15/2009 11:08 AM  

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