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Mr. Sirota is wrong. He is starting from the wrong place. Unless, and until, bad financial decisions are 'rewarded' by the right solution, there will be no recovery.
A fundamental tenet of capitalism is some things create capital and some destroy capital. Debt must not be created to prevent destruction of capital. Debt subtracts from growth.
When, prithee, is someone inside the loop of decision-makers going to make the obvious leap to bringing bad debt into the picture. There may be some good reasons to soften the certainty of placing into debt slavery the average citizens of this nation. But, while those in charge try to come up with ways to do that, at least give lip service to recognizing this country cannot do it by printing money, which is exactly the same as creating more debt.
My hands are clean. I did not purchase anything I could not pay for. When I made a purchase that did not result in the benefit I thought I would realize, it was my fault. Not every time - I have made purchases from time to time after factoring in what turned out to be lies from the seller. I learned something every time that happened.
Bad decisions, just like elections, come with consequences. Wall St. made bad decisions. I resent the fact that I have to pay for my mistakes - and theirs. What makes it even harder to swallow is, in most cases, theirs weren't honest mistakes. They were conscious decisions designed, ultimately, to create a nation of debt slaves.
We are on our own out here in the street, people, time to smarten up. Yeah, right.
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