A quick economics primer
Stop it!!! Economics is not a difficult subject. Really. It has nothing to do with the fact that the Econ 101 class I took many years ago was taught by the world's most boring man, the subject is incredibly interesting, and not that difficult to understand. About the only thing I remember is that I learned the name of the Secretary of Agriculture at the time, Earl Butz.
Mr. Butz went on to become the most famous Secretary of Agriculture since who knows when as he told inappropriate, highly offensive jokes that eventually wound up in skits on Saturday Night Live back when it was funny.
Anyway, pay attention, economics requires just that...pay attention.
I'm reading all this nonsense about what needs to be done right away because of the rise in energy costs. Now, if anyone was paying attention, the following facts would immediately come to the forefront: back in the 1970's, the OPECer's put the squeeze on us, gas was in short supply and tripled in price.
We lined up for gasWe saw what happened, and for 30 years, did nothing, and then we act surprised. We didn't pay attention. It was more important to worry about Brittney and Lindsey and Miley.
The banking industry is in the crapper because back around 1977, Jimmy Carter and others decided it would be swell to make it easy for Americans to buy a house, whether they could afford it or not. A home is the American dream, and who are we to expect anyone to wait to have a dream come true? So, the government looked the other way as crazy schemes to get the money to individuals were put in place. And surprise, they couldn't pay their bills. And fat cat investors and CEOs made a boatload of cash. And we let it happen because we didn't pay attention.
We send too much money overseas. We have become a service economy, and that is a formula for disaster. Jobs go overseas, and so does a vast amount of cash. Brilliant planning, huh?
And the last part of this economic primer is this: it's not Bush's fault. Yes, he isn't going to go down as a great President, not even a good President. But he did not do all this on his own. This perfect economic firestorm has been 35 years in the making. We have had several Congresses (17 I believe) and 6 different Presidents since the first energy crisis. There is plenty of blame to go around for the shit stew we have simmering here.
Is it too late? I hope not. But it requires an overhaul of our economy, not slapping a patch here and there.
Don't forget Deb needs fees for her blog. Help a blogger out. It's good karma, and helps the economy.
They are stocking up on toilet paper at: