I woke up amazingly early today, probably from hunger pangs. So I went downstairs to grab a toast, my earl grey, and a tangerine. Then flipped on the tv and paused at C-Span. I don’t usually watch this channel cause it mostly covers the U.S. supreme court, which is quite boring well at least to normal, active humans. But I’m sure they cover a wealth of fun topics as well. Anyways so as I was watching, they had a gentlemen speaking about the global meeting between 20 other countries about this crisis we’re having. Though it ended up with only 19 showing up at that “class picture” (..I wonder who that could be….seriously I don’t know). The gentlemen spoke eloquently, he addressed all the Questions that came through the line. Some people got upset and even went on a tangent to say he is working in line with the international folks. At first, the callers seem to know what they are talking about. The money global issues and how this crisis has spawned. But it gradually became more misguided. He kept his cool, which I applaude him for that. I couldn’t help but say outloud “No, stupid! They are actually helping us!” Everyone at first were very polite, thanking cspan for letting them speak, it it soon became less constructive and more revealing of how stupid Americans are. Some issues that I felt revealed the ignorance of Americans today: Okay so America is still great….but most Americans believe our plight has to do with China-their surplus on reserves, and mainly the outsourcing to other countries not just China. Relatively, China is still a poor country. It is just that they are better at saving, while the US is a consumer society. We need to have the roles reversed, and that is what is and hopefully come out of the stimulus they gave. Second, how do we keep our jobs when there are Indians taking out our jobs. Hon, the Indians aren’t stealing anyone’s job. It is because the aggregate of the United States needs more education. We are in a recession, but the need to fill jobs is still there. However, these jobs need higher education. And our economy with the technology field expanding, is expanding at a rate that cannot fill up those jobs in relative to the rate people are getting those degrees. There is actually a drop in college graduates and above. Third, globalism is the root of all evil. Truth of the matter, if North Carolina and Tennessee were different countries, or Texas and California are different countries with different banking systems, currency, laws, and basically ways of doing things–the united states would be a lot poorer. So by having a world market, we can rely on each other to lift us up. The solution for this crisis is to work with organizations like the World Bank and IMF–so that countries like China who is expanding 9-10x and give help to other countries and in exchange receive more say/influence/clout/power in orgs. like the WB and IMF. We are seeing another transition in history. After WWII, America and Britain were literally the G-2, the great powers at the time because all the other countries that were in the war are now poor-drained by the financial burden produced by supplying war funds. Then it was the G-8 (though i believe cspan said G-7), ill look it up later. So now we witness a G-20, which is incooperating the world–and I’d like to say more democratic way.
Most of what I wrote about above was from the second commentator that came up. I think to myself, wow go back to school or something. I am 23, a graduated college student, and I know where the problem lies and it is at capitol hill. But seriously, I think because of people like them-that is why our economy is in the shithole. Excuse my venacular, but have some decency and do not yell at the truth because it gets you nowhere. Because of poor planning that pre-dates the clinton presidency for the banks, that’s why gov-owned companies are falling out. Back then we were giving people homes, which sounds good. But these people who were given home obviously couldn’t afford on their own, so what makes the government think they can mortgage them. So then the government tries to help them with the mortgage. By the way, I get people coming to the church asking help with the mortgage…so these problems do exist! This is a very complex subject, so I’ll try my best to describe how the Q+A went…The government intervenes and gives them bonds, but because the banks do not make sure they have enough in the reserves to help cover these bonds…companies like fannie mae and others utimately fail so to speak. I’m sure I have left out something, but that does it for me. Done with my ranting, I’m out!
