Wherein I Complain About The Economy

November 13, 2008 at 7:48 pm 2 comments

Economics is stupid. The stock market is based purely on the whims of people who will sell millions of dollars worth of stock in reaction to an internet rumor that Steve Jobs had a heart attack, and the very foundation of our country rests on their shoulders. In the days just prior to the election, the market made huge gains in anticipation of an Obama victory. On November 5th, everyone realized that even though he won, he wasn’t actually going to be able to do anything until he was inaugurated in January, and stocks plummeted again. In the last couple days, the market went up. According to the New York Times, “The market’s abrupt about-face left investors and analysts grasping for explanations. ‘I have no idea,’ said Michael Feroli, an economist at J.P. Morgan Chase.”Wall Street

A certain Englishman I know has been saving up for a move to America, The Land of Opportunity And Dreams And Freedom And Free Puppies. Even though America has superficially “recovered”, the British pound is rapidly collapsing, and he’s suffered a 25% loss on his savings just in the past month, as a result. I’ve been struggling to find a lender to consolidate my student loans, and contemplating repayment plans which extend for more years than I’ve been on this planet.

Meanwhile, our government has helpfully bailed out companies where executives get 6 weeks of vacation and million dollar bonuses every year. This will enable them to give more loans to people who can’t afford to repay them, because what we really need right now is more people in debt, and to broaden the class gap.

My suggestion? Give that $7 billion to people who have spent tens of thousands of dollars to better themselves and are now buried under mountains of debt. Give it to people who want to go to college but can’t afford to, and who would never have the opportunity otherwise. Encourage Americans to educate themselves so they can hang onto their jobs, instead of them being given to more carefully trained people overseas. It’ll make our economy stronger from the bottom up. I know, I know, it’s too late for that now, but it’s something to aspire to, right?
Picture Courtesy THE BROKERS WITH HANDS ON THEIR FACES BLOG

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Entry filed under: Betty, Miscellaneous Musings, Politics Palace. Tags: , , , , .

Googly-Eyes: A Retrospective Cutest Thing I’ve Ever Seen

2 Comments Add your own

  • 1. Sarah  |  November 14, 2008 at 1:37 am

    cheers!
    I also just read a book that discussed how utterly ridiculous it is to try to predict the stock market in any way, in fact a lot of times the attempt to analyze the market results in lower performance than random chance would bring.

    also, about college being awful I was watching Cosby the other day and theo was talking about college tuition at “the most expensive school in the country” and for room and board it was like 17,000 a year… I want to go to school 20 years ago…

    Reply
  • 2. parkrangerolivia  |  November 14, 2008 at 11:28 am

    Holy shit. 25%? what the fuck is going on? also, that blog is amazing.

    Reply

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