Consumer Confidence

gift_boxSo today the government decided to try to improve consumer spending by investing in the consumer debt market. Treasure Secretary Paulson thinks that by freeing up personal credit we consumers can go on with Christmas as usual. Come on guys, only a moron would go out on a buying spree in this climate. We are cutting Christmas to the bone. The companies we are bailing out are continuiong to increase fees and premiums while holding posh seminars on our dollars.

Now if you really wanted to boost consumer confidence, instead of investing in companies that have already sucked all we can afford out of the economy, why don’t we put a couple of billion into…education.

Yup, if you want to boost MY consumer confidence you could help me be confident of the college education of my kids. With one in college, one starting next year, and the last the year after, if a couple of billion were spent so every child with say a B average gets a free college education, it would go a long way to improve my confidence. I am a firm believer that education improves society so what’s to lose. Sure we need to make sure it’s not just a party, but the VA and most existing scholarships already do this. Instead of keeping some fat cat in his fine house, lets send our kids to school.

If you did this Mr. Paulson, I’d make my Christmas gift list much longer, I’d even send you something nice.

Back in Time with the New Subprime

I feel like I’ve gone back in time and I didn’t even get to drive a tricked out Delorian.

Didn’t we have a deal a few years back where we, those of us with jobs and mortgages, bailed out them, the saving and loan executives who sat behind big desks when we got our mortgages and asked us important questions about our worth as human beings in society? We saved their sorry butts and they went back to their McMansions in their gated communities in TEARS. It took days before their friends could get them out of thier houses and get them started in their new life as high paid lobbyists.

Now here we are again, institutions that ran subprime mortgage companies (some of them lived in the COUNTRY and had a lot of TIME) made a lot of money and paid their important exec big bucks. Now the chickens have come home to roost, be butchered, or I don’t know what, and who is going to have to pay? Well the people who benefited most from these risky practices and questionable advertising and misrepresentation, right? I’m sure that with what we learned with the Savings and Loan problems that our governmental representatives have put new measures in place so this time they will march right down and make the people responsible pay. Heck, how hard will it be to garnish their wages since they’re right there lobbying anyway.

No folks, we will pay. We who can’t even get an interest rate on our savings account that matches inflation. And when it’s all over, and we’ve made everything right, you can rest assured that your reward will be another set of rules and regulations that help out the banking business.

Remember bankruptcy reform? Men in fine suits talking about how irresponsible credit use had to be curbed. What he didn’t say was that most revolved credit card debt is:

1) Medical Bills (duh)

2) Car Repairs (gotta get to work)

3) Emergency Travel (Mom died)

How dare they be so irresponsible!!

Now shut up and leave me alone, I gotta fix this flux capacitor so I can get back to the future. I’m gonna look so I can get in on the next big bailout, I hope I can sleep at night though, this darn conscience is a real liability in this business.