Sign of the Times

Okay this is just rambling.  I am keeping my disgust with all of this bailout business but just a thought that maybe those giving my money out need to recognize.  What is really lost in all of the talk about failing mortgages and the resultant credit freeze is why are people unable to pay their bills.  Sure there is no excuse for all parties involved when people were buying homes they had no business buying.  The problem is the real issue is being ignored.  To get a quick sense of the issue, check out the activity on the professional networking sites.  Social networks such as Windows Live and Facebook get all of the attention but LinkedIn is a social network for professional use.  It has been around for quite some time.  I joined up a long time ago, so long ago I had to remember back to what password I was using back then when I recently received a join request.  People are trying to build these connections because the job market more than the investment market has faltered.  I don’t mean to offend any readers from countries other than the United States, but companies are faltering because since we have been farming out all of our labor, we can no longer afford to consume their products.  This has been going on for some time, it has just become large enough that the problem has crept into the gated communities.  I don’t have the answers, but I read of a CEO who was fired from one company after they could no longer take hits on their stock price, is hired to be a CEO of another company.  Companies only concern themselves with stock price and investors only care about P/E; the quality of the product or service is not even a consideration. 

The Auto makers????  I have bought a specific brand since I could afford it (take note of that).  I was not so naive to completely believe I was buying American but I figured at least part of my purchase was patriotic.  I love my truck but I am certain that very little of it was made in America, hence workers were not making money in this country to pay their mortgage and consume.  Yeah I am anti-union and the American workforce in general is responsible for part of the issue, but these millionaires and billionaires have control.  They can whine about the cost of labor but they are not suffering through the hard times, especially with the government giving them money to play with.  Companies like Nike, Levi’s Walmart wrap themselves in the stars and stripes but other than high-end positions they are doing nothing but stealing from us.

I am just a jarhead, none of that fancy book-learning (another big issue in the job market). but you can only withdraw from a fixed source for a fixed period of time; the well is dry and it has nothing to do with “Credit Markets”!

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3 thoughts on “Sign of the Times

  1. John,I have to admit that even though I used to live very near to some of the big auto manufacturers in Ohio I have little if any sympathy for the mess they have found themselves in. I, too, am anti-union and for no other reason than I can’t justify paying someone over $30 an hour to sit and babysit a machine that does the majority of the manufacturing process! I know I could probably write a blog about this and certainly stir up a great deal of controversy, however, should we as hard working tax paying citizens be forced to bail out every industry that has fallen victim to nothing more than the greed of their leaders, ceo’s and multi-million dollar a year executives who think they are worth that?I just not going to be willing to contribute to someone who has taken so much out of what the big auto manufacturers started as and have fallen prey to nothing more than themselves and lack of poor management!Be blessed my friend!Greg

  2. Well for starters none of these companies have fallen, at least not far enough for bailouts. Perks still exist despite their hands being out. You mention Ohio, again the big issue can be seen right there… most of those jobs are gone and farmed out overseas. With those jobs gone people can’t pay their mortgage. It’s a multi-faceted problem and our leadership (bi-partisan fault) just helps out their buddies with our money.

  3. great blog – I couldn’t agree more. As for the "just a jarhead" – young man – there is no such thing as "just" a jarhead! thank you for your service!God bless you!Teri

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