Tuesday, May 19, 2009

You Can't Handle the Truth

Somebody better press Col. Nathan Jessup's dress blues and see if we can squeeze Jack Nicholson into them, because that’s what needs to happen, pretty much every where across the country.

The shortest distance between two points is a straight line. Right now we are at a point where our economy is sadly broken. We want to be at a point where our economy functions normally and predictably. So, how do we get there? I'll tell you how, we take our medicine, we let the mechanisms within our economy function normally, as they have for generations. We stop undercutting contract and bankruptcy law with artificial "fixes" that will only prolong our slump and make a more bitter pill to swallow when we're forced to do so.

There is no pretty way to say it. You don't need a JD from Harvard or an MA from Johns Hopkins to figure it out. Its time to stop meddling with the complex economic machinery that drives entire world, we no longer have the power to just makes things happen like we did 20 years ago. Its time for real leadership. Leadership that realizes that the needs of the many vastly out weigh the needs of the feeble minded few who willingly and with great vim and vigor over extended themselves. Over extended home owners, I am sorry, its time to line up a rental and drop the keys at the bank. Mr. Banker, you leveraged everything but the door knobs, its time for a margin call. Put up or sell out, your short sighted profit mongering has come to an end. The people who didn't share in your gains certainly do not want to share in your losses. I used to say save the banks, we all rely on them. I was wrong, they can't be saved.

Its sink or swim time. Those with the anvil strapped to their backs are going to the bottom. A regular poster here, likened the current situation to forest fire. It was such an apropos analogy. Before man learned how to fight fires, forest fires were nature's way of renewing. The flora and fauna that was burnt died, but its nutrients were returned to the soil. Soon after the fire ended, new species began to sprout up and life began a new.


Mungo Jerry said...

It used to be "kill all the lawyers".

Hum, bankers anyone.


Bruce D. Collins said...

well written. I couldn't agree more. You can put off the day of reckoning... but when the day finally arrives, it is much much worse.


Markus Arelius said...

Democrats tax us into oblivion. Republicans charge it all on our children grandchildren with impunity. Nobody presides over a balanced budget. The gravy train must be ridden for all it's worth.

It doesn't matter. The destination and vessel is the same:

Hell and in a handbasket.

Bush, Bernanke and Paulson fretted in September that the banks were "too big to fail". Bailout.
Obama sang the same song about the Big 3 automakers: "Too big to fail". Bailout.

People need to get it through their thick skulls that capitalism is not socialism. It's not christianity either. Christianity is about being a good Samaritan "helping a brother out", forgiveness of "sins".

Capitalism is darwinism. Sins or no sins, it's survival of the fittest. You can't make it? Well, OK you had your chance. Step aside and die. Next!!!

And so it should be with the banks, auto companies, Home Depot stores, and any politician running for public office?

If you can't make it happen, then get the f*&$ out of the way and make room for someone who can.

Obama's experiment of turning US banks into zombie institutions should fool no one.