As of December 2010 over $9 Trillion dollars in wealth has been lost by American Homeowners. This number is fully expected to climb further in 2011.
One alarming question this brings to mind is whether or not this loss has fully expressed itself on the greater economy. For instance a rising tide raises all boats and in home values a falling tide lowers all boats – and there are a lot of, say, employed people who’ve yet to realize the actual cash consequences of a home that isn’t worth a fraction of what they thought. Although they may have adjusted their consumption some what due to the psychology of a “wealth effect.” Also, how come this loss isn’t measured in the definition of a recession?
What really slays me is as of December 2010 over $9 Trillion dollars in wealth has been lost by American Homeowners but the perpetrators were the only ones who our government made sure were made whole – immediately – in a way, I might add, that proved dis-economic. Not to mention that the perpetrators used the money to throw parties and give bonuses that were obscene by Main Street standards. But it all was allowed to happen anyway.
AIG, arguably one of the biggest contributors to the financial mess and probably the single worst abuser of the bailout proceeds, even now continues to have cause to throw a party. The President just appointed consultant and AIG crony James Cole to the office of Deputy Attorney General. The President is either completely out of touch with the sentiments of the American People or simply does not care what the “little people” think.
What am I supposed to make of all this – and more - when I go to vote in 2012?
Hmm,…the fact that Republicans are worse than Democrats is not sufficient to make Obama a good choice. In fact, if you accept the fact that special interest cash is the problem with our democracy then Obama and the Democrats are part of the same problem exemplified best by the Republicans.
Obama is not going to champion campaign finance reform. He is not like Bush; he won’t find a way to get it done. Furthermore, it is enough to say that collectively the employees of Goldman Sachs were the largest contributor to Obama’s 2008 Presidential campaign. He is comfortable with special interest cash and excelling in its presence is what he knows.
Worse still he prides himself in compromise – no matter how ridiculous the opposing position (e.g. tax breaks for billionaires?!) – so he can be pulled in the direction the Republicans want. So compromise is going to kill the “perfect” for the average American by letting special interest groups get the cherry.
So, I’m thinking that because of the pride he takes in compromise coupled with his penchant for enjoying special interest cash Obama really offers nothing in 2012 but the country continuing to languish in a cash entrenched system that completely ignores and perhaps, incrementally at best, acknowledges only some of the needs of Americans. No matter how dire the straights some American might be in.
Worse still, what I have seen is that Obama is more than willing to abuse his voting base by triangulating against them.
Related to all the above seems to be another truth about Obama, he is deliberating taking action to appeal to more moderate, centrist Republicans. This will invariably take the pressure of having to get the votes of those average Americans who are still unemployed come 2012.
By the way, if you don’t think there is at least a kernel of truth in my comments about Obama, then you are part of the problem.
Alternatively, I could vote for a Democratic challenger (yea!) perhaps an Independent, Progressive, or Democratic other than Obama. After all, regardless of the odds, here in America you can’t stop people from doing what you might consider dumb. However, being from Wisconsin I am prone to think that the Democratic National Party is limiting the American people’s options to just Obama. If true, this would be another drawback all together.
Let’s recap. Obama is not going to institute 100% publicly funded elections. Related to this his is his “style” that will continue to deliver up a drift toward Republican ideology. Which is to say that under Obama our government will only be just representative enough to stifle dissent as the republicans continue to manage him to the right.
And sadly, for whatever reason there will most likely not be a Democratic or other Challenger from the left to unseat him.
I’m down to voting Republican which might bring some HOPE and CHANGE. If
Republican position is really as untenable as they say and would result in a melt down of the mechanics of our nation’s social organization and ability to govern then perhaps the outcome would be an overwhelming cry for the abolition of special interest cash in the running of OUR country? Furthermore, the worse I consider the Republican parties agenda to be for the nation the quicker will come the demand for real substantive CHANGE in Washington. Hmmm, languish on under Obama for another 4 years or get what I truly want in a matter of months… albeit rocky months? I might be able to shorten my suffering?!
And here I am.
2012: Bribed by Obama with occasional peanuts into continuing to swallow republican ways in dribs, drabs and degrees or simply vote Republican and get fully exposed to that which will invariably result in social convulsions followed by successful demands to finally purge special interest cash from our democracy.
I guess, a lot of kids die for our country, the least I can do is sit through some “social convulsions” so they didn’t die in vain.