Tuesday, September 23, 2008

The Economic Mess

So, what do you do when the dollar is worth nothing? $100 for a loaf of bread? $150 for some milk? Serioulsy. What do you do when the dollar is worthless? At the rate the Fed is going, the dollar's buying power will be zip in another year.

Sure, that's a rather dire prediction but continued bailouts for companies that over-extended themselves continues to weaken the dollar in the world economy. Oil shoots up $25 in one day. Why? Weak dollar. Inflation flies? Weak dollar. Granted, we can't let the economy collapse but putting the entire burden of failed corporations on the back of the American taxpayer hardly seems like a solution.

Far be it for me to agree with Hilary Clinton but I caught her this morning on the Today Show and she was talking about oversight for these bailouts. And I agree. These companies should not be given blank checks. There has to be some checks and balances in place and considering the administration change that is coming soon some type of independent oversight is needed. The American government is in no place to give away money. American taxpayers must demand that not on do these companies pay back the money lent to them but do so with profit. And the government, who wants to give away our money, should be forced to do their own cutting to ease the burden on the taxpayers.

It's a real mess. You can't let the economy just collapse but continuing the prop up failed companies hardly seems like a solution. But it's too late to turn back now. I guess America is ready to give communism a try? Seriously...we're getting closer than you think.

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