oldsuretyguy

Letting the Reinflation Genie Out of the Bottle

From a purely observational perspective, how can this $700,000,000,000 windfall to Wallstreet produce any lasting benefit to the US middle class, many of whom are now unemployed or lack decent paying jobs? Only marginally...... since lack of good paying jobs significantly contributes to the current and worsening problem frustrating a lasting future US economic recovery.
Surely unregulated Wallstreet is to blame for producing lax credit and junk financial products that were gobbled up after the Dotcom implosion. But, won't just pumping gobs of cash and credit into our poorly regulated financial system leave us pretty much where we were eight years ago.... borrowing to exist and still buying the tons useless or carbon hungry junk flooding out of Asia and Detroit?
I think Americans are tired of our role in the international balancing act fostered by previous administrations passively allowing the exportation of our industries and jobs for increased profits and the growth of emerging nations. What we need is a little bit of selfish US job stimulation from a top-down, neutral public investment in new energy products that unshackles us from the gang of fossil fuel pirates sucking at out throats. This would be just the ticket to massive new US domestic job stimulation providing we don't export the business to the far east for development and production. We should demand that domestic energy development go forward and be put into the realm of a "critical domestic survival status" not exportable for foreign development or production! I'm not suggesting a Hooveresque solution to the current situation but a reasonable approach that will actually massively stimulate the US economy and provide decent paying jobs - of course at the expense of Exxon, Walmart, et al ---unless they want to jump on board. Can it work???
Did Microsoft crap in the woods? Translated: Did the personal computer simulate the economy and a new age? Yes it did and so can an explosion of new clean energy development. But, let's be realistic, unless our whole economy turns into a massively decimated wreck - to the tune of The Great Depression squared, do you really see this happening. NO! Why? Because gov. is "for sale", always for sale and would simply squash programs detrimental to their Wallstreet, Detroit, the Seven Sisters interests along with the myriad of other friendly imbedded leverage partners. Gov. has demonstrated this time and time again, ad nauseum.
So then, what's in it for us? Well okay, "if" we can sell our homes, pay off our credit cards and look for really, really cheap housing, along with a burger flipping job, then maybe, just maybe life will go on.... now of course, with the bankers owning the US at 10 cents on the dollar thanks to the $700,000,000,000 Wallstreet bailout.
Who was it, that said,... "It's not that I'm too cynical, it's just that I'm not cynical enough!!!" Amen to that.