Blame the US GOVT. plus the SEC...according to David Cay Johnston, (The Book) "Free Lunch", the SEC held a board meeting and reduced the amount of cash a banking corporation must hold in accounts in relation to its obligations (Debt/Loans). The result is that many organizations now hold only 1 to 30 ratio of cash to debt/loans. So who do we blame for tax dollars spent
-Obama
-McCain
-Senate and House of Representatives, the President,
-General Accounting Office as far as no one listened to their audits or recommendations.
-Lobbyists
-CEOs & CFO (Chief Financial Officers) of Financial Organizations
-Globalization
-Politics as usual
-Status Quo thinking
-Culture of Subsidies or Bounties paid by the government to corporations, industries, Financial Organizations, Major Corporations, Housing and Construction Interests, etc.,
-Culture of "big Business" represents the Economy and is national security privileged interest.
-Some strange twist of logic that made the US government want to allow sale of "National Interest" technology corporations to foreign companies.
-Election Cycle in Washington that makes our representatives focus on re-election more than borrowing from "Social Security Plans" and paying and funding only the interest on our long term obligations/debts (INSTEAD OF PAYING OFF THE DEBT)
-Bizarre Idea of bringing American culture to the Middle East and saying it is teaching democracy instead of a "Police Action"(Democracy in a tribe?).
-Strategic War instead of investing in alternative energy research, competitions, university programs, experimental projects.
-Trying to do what we laughed at the Russians for doing in Afghanistan even though we go about it differently(the Russians and Osama Bin Ladin have to be laughing at us now).
-Trying to do anything that looks anything like Vietnam(Iraq).
-Ignoring and not understanding what our Federal Budget looks like, shortfalls, grants and subsidies, unfair trade relationships, exporting military technology, Trade Deficit, Deficit Spending, what we call "Debt Service" instead of paying off the debt.
-Government with lobbyist is really Government by Lobbyists.
***What is Next is "You Don't Want to continue to bailout industries and you Don't want to continue subsidies. WE Have to end practices that empower foreign countries and weaken the USA. We have to end privileges that we extend to China as "Preferred Nation Status".***
Sunday, October 5, 2008
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