Ever Wonder Why the World is in an Economic Mess
take a look at this
Saturday, January 24, 2009 by starkers | Discussion: WinCustomize Talk
The bankers are deservedly copping a hard time for their greed and economic mismanagement, but let's not leave out/forget there are others deserving of our disdain and anger. This was over at the Consumerist site:
"Here's a sad little saga. After convincing our government that it was responsible enough and commercially viable enough to deserve a multi-billion-dollar bailout, Chrysler spent some of the money taking out full page ads in The Wall Street Journal and USAToday, thanking America for its money. They also posted these ads proudly on their blog. The reaction from actual Americans was, um, harsh."
For more, and the backlash comments see here
Stupidity seems to be in an abundance thoughout the business world these days (and government, so it seems)... but to advertise it in a national publication is beyond stupid. Talk about going from the sublime to the ridiculous! Hopefully, Barack Obama will put a stop to these business bailouts - if a company isn't good enough to trade its own way out of trouble it will continue to fail regardless - and start jailing some of these high flyers for corporate fraud/public embezzlement and etc.
I particularly agree with this part from one of the backlash comments: "even if your company fails, you will have your golden parachute stitched with money taken from the pockets of people who are losing their homes, their jobs, and their ability to provide for their family....". As always, the average bloke gets flushed down the toilet while the rich keep get richer off dirty dealing/underhanded tactics.
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Reply #121 Friday, March 13, 2009 12:37 AM
Here is a well written article that gives us some insight into why the World is in an economic mess... link
And another article here detailing the attempts of a few to exacerbate matters even further... of particular interest here are the comments below the story.
The one thing pertinent to both these articles is corporate/banker developer greed and political stupidity that allows/encourages it. When oh when will they learn? That when the majority of the wealth is in the hands of just a few, and the largest consumer base, the lower and middle classes are struggling to put food on the table, endless development, building and production will not get them out of economic trouble.
I mean, how can there be less money/real wealth in the World today, as compared to 6 months a year ago? Somebody has to have it, right? Or is it that we've been living above our means in artificially created and false economies, where gambling and hedge betting against non-existent funds became too often the norm, and now the consumer spending bubble has burst, the big banks/businesses are refusing to guarantee loans/deals/tradie against weakened demand.
Seems to me, the banks and corporate world are in a financial mess of their own making... and not just through the obscene bonuses they award themselves at the drop of a hat. Much of it comes from building/developing at ANY cost, and hedge betting against non-existent funds to a severely weakened consumer base, whose propensity to pay was gobbled up by corporate/bank greed... denying the average worker a fair day's pay for a fair day's work while the executives lavish themselves in luxury with unearned bonuses and grossly obscene salaries. Yup, ignoring/neglecting the backbone of industry really works, don't it.!