One hole plugged, another one just blew open
So BP has put a cap on the oil leak. A full three months after the leak started and after irreperable damage has been done to the Gulf Coast. I'm dismayed with the Federal response not so much with stopping the leak, I mean they are just politicians, how could they be expected to do that? But they could coordinate the clean up between states, etc. And they just have failed so miserably. Every night that's reaffirmed for me as I watch Anderson Cooper, LIVE from the Gulf Coast. I swear ... he loves being LIVE down there.
So whatever havoc the oil spill has done to the Gulf Coast economy, the bill that passed the Senate today is going to reek even more havoc on the nations economy. While the country is sleepy in the hot August sun, Congress was hard work overreaching their rights and taking control over the financial markets.
The very same Fed that "failed" in 2008 to notice what was happening with trading securities, now has even more control and even more responsibility. The onus, is on them to prevent this economy from worsening, or from a similar crash from occuring.
The whole thing blows my mind. It's another 2,000 page bill that probably no one read, that is very short on specifics and where it is vague it leaves the details up to the Fed to decide. Pur-fect. Just what we need, a bill that says "oh we don't know what to do so we're going to let these guys make decisions after we pass this legislation."
Your tax dollars at work.
Heritage and others think that this bill is going to force an already stagnant economy into another recession. My financial guy said that two things could happen (he said this in late 2008) that we would either have high inflation because of what the Fed did to recover, or we would have a double dip recession that lasts even longer than the first one. So far, my money is on the second one. I can't remember why he said it would happen, he did tell me though.
And so far his predictions have come true.
I am so, so, so tired of 2,000 page bills that no one reads that aren't real laws that are just talking points put to paper to appease a base or a lobbyist. Congress has decided that their job isn't to legislate, but to get re-elected. And they don't see how the two are related.
A few years ago a friend of mine said she was voting against incombents, even if they were good. Because she was so tired of the whole thing. Now, I'm sort of in agreement.
There were three Republicans (HA!) that voted for this bill, Snowe, Collins and Brown. I knew Brown was going to be an East Coast Republican in the end, but geez ... couldn't he have waited a beat? I mean there was a lot of GOP money spent to help that dude out. He could show SOME gratitude.
But what Congress has done, is passed the bag. When the economy tanks again, they can blame the Fed, because this bill hands that problem to them, and charges them with keeping it stable.
Good luck with that. What a train wreck.
So whatever havoc the oil spill has done to the Gulf Coast economy, the bill that passed the Senate today is going to reek even more havoc on the nations economy. While the country is sleepy in the hot August sun, Congress was hard work overreaching their rights and taking control over the financial markets.
The very same Fed that "failed" in 2008 to notice what was happening with trading securities, now has even more control and even more responsibility. The onus, is on them to prevent this economy from worsening, or from a similar crash from occuring.
The whole thing blows my mind. It's another 2,000 page bill that probably no one read, that is very short on specifics and where it is vague it leaves the details up to the Fed to decide. Pur-fect. Just what we need, a bill that says "oh we don't know what to do so we're going to let these guys make decisions after we pass this legislation."
Your tax dollars at work.
Heritage and others think that this bill is going to force an already stagnant economy into another recession. My financial guy said that two things could happen (he said this in late 2008) that we would either have high inflation because of what the Fed did to recover, or we would have a double dip recession that lasts even longer than the first one. So far, my money is on the second one. I can't remember why he said it would happen, he did tell me though.
And so far his predictions have come true.
I am so, so, so tired of 2,000 page bills that no one reads that aren't real laws that are just talking points put to paper to appease a base or a lobbyist. Congress has decided that their job isn't to legislate, but to get re-elected. And they don't see how the two are related.
A few years ago a friend of mine said she was voting against incombents, even if they were good. Because she was so tired of the whole thing. Now, I'm sort of in agreement.
There were three Republicans (HA!) that voted for this bill, Snowe, Collins and Brown. I knew Brown was going to be an East Coast Republican in the end, but geez ... couldn't he have waited a beat? I mean there was a lot of GOP money spent to help that dude out. He could show SOME gratitude.
But what Congress has done, is passed the bag. When the economy tanks again, they can blame the Fed, because this bill hands that problem to them, and charges them with keeping it stable.
Good luck with that. What a train wreck.
Comments