October 3rd, 2008
After a hostile few weeks,
the U.S. Congress approved a $700B bailout of the floundering financial
sector. Was it a good thing, or will it only spur future incidents on
a grander scale?
Corporate America has always
played the political fiddle with governments: give us the money, or
we'll pack up and go somewhere else, leaving your economy to shrivel
up and die a slow and morbid death.
That money had to have come
from somewhere - where? With a national debt reaching nearly ten trillion
dollars, virtually no taxes to generate income and a huge deficit plaguing
the entire nation since at least the Reagan era, there's no real reserve
left from which to take this money.
While the political puppets
swayed to the demands of corporate America once more, the reverberations
it will have on the generations to come will erupt into rigourous waves
of destruction, eventually shattering the windows of financial stability
and causing the country to become bankrupt.
What does this teach our
reckless business owners? It teaches them that they can essentially
screw up and the purse will be left open to them whenever they need
it.
And to the public? It teaches
them that favouritism does indeed exist within their ranks - the officials
they elect gladly take their votes and kindly give them the finger in
return.
Whether the bailout accomplishes
what it originally sought out to do has left to be seen. We won't see
it for a while, but our descendents will definitely feel the radiation
left from their ancestors' poor decisions from deep within
the past.
As they say, time heals
all wounds. But here it looks like it'll take a few millenia before
the wound finally closes up.
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