Monday, March 17, 2008

Financial Crisis, What Next? Bush Will Lie & Things Will Get Worse

I don’t usually comment on the economy, but today’s evens promise to be pretty drastic, so here goes.

Bush will speak to the nation regarding the economy sometime today and you can expect the same kind of lies that have lulled the country in to a numbness that allowed this crisis to happen. Though the stock market swings will not affect the average Joe immediately, eventually the effects will seep into our daily lives.

We can expect higher gas and food prices, for both are tied since our food moves on gasoline powered transport. We can expect layoffs in jobs in some sectors, and we can expect everything to start costing more. Dire predictions? Yup, but they are not new. Consider that we have sacrificed our production capabilities to the bags of $2 socks at Wal-Mart and have been buying our cheap oil with the lives of American soldiers and you have a pretty grim picture for a while now.

Who is going to be hurt by all this? You and me. The rich who own stakes in the multi-national companies will feel some pain, but their reserves will cushion any real bump, but the millions of American’s who live from paycheck to paycheck will suffer and that is the problem. As we have blindly strolled down the lane of globalism, and sold our country to foreign interests we have had a good time, but it was whistling in the dark.

The only way I feel our country can survive this latest downturn and the one that is coming is to reestablish our sense of community. We will have to help each other, and that counts for companies too. Corporate America is going to have to reexamine their business practices and think of what is good for the country as well as for stockholders.

The term “Stakeholders” will have to become part of their vocabulary. Consumers, workers and affiliated companies are the stakeholders and their interests are really as important as the stockholders. Without consumers and workers, all the money in the world will produce no profit for anyone.

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