Showing posts with label economic crisis. Show all posts
Showing posts with label economic crisis. Show all posts

Friday, October 31, 2008

wait... isn't this...? huh...?


Evangelical Christians "praying for the markets" in NYC yesterday. While intellectually I understand their intent here, and I do believe that intention and focused thought can accomplish some pretty nifty things (so why not move the markets, right?), there is something very disconcerting about this particular choice of venue. I mean, isn't this the symbol of the runaway greed that got us in this mess in the first place? It's going to take me a day or two to wrap my mind around this one. Definitely a Hmmmr.
via wonkette

Wednesday, October 15, 2008

flash flood economics

At this very moment there are mothers all over this planet wondering if they are going to be able to feed their child next week. Now that things have turned ugly, trickle down economics has turned into flash flood economics. The paycheck-to-paycheck people are vulnerable, but more heartbreaking are those who will have no paycheck at all because of the economic contraction.

I'm not sure who shares the most blame for the economic crisis currently churning around us. It seems that short-sighted politicians who deregulated banking and high finance to the point where greed was not being monitored and kept in check have a huge part of the blame. Another big chunk of the blame can be assigned to the CEOs of the banking industry who -- blinded by greed and unfettered by regulatory oversight -- allowed their underlings to take irrational risk in order to increase what seems like their already ridiculous overcompensation.

Whomever you are, if you in any way hold responsibility for this, I truly hope you can't sleep at night thinking of all the babies that are going to be going hungry because of your actions. Shame on you.