Tuesday, January 27, 2009

It Has Started

Pay attention. This is what awaits if we don’t get our act together.

Global Financial Crisis Fells Iceland Government

”As personal savings have been wiped out and joblessness has soared, Icelanders -- once among the world's wealthiest people -- have taken to the streets in protest, banging pots and pans and throwing eggs and toilet paper at Haarde and other parliamentary leaders.

Protests have mounted throughout Europe, where the political backlash to the crisis is growing. In Ireland, Britain, Spain and other countries where bankruptcies and home foreclosures are rising, polls show that approval ratings of leaders are sinking. In Eastern Europe and Greece, where there is less of a government safety net, protesters have spilled onto the streets by the thousands. “

Just to add a little perspective, I found this line enlightening:

”In recent days, protests intensified as no leader took responsibility for the crash, prompting police to use tear gas for the first time in half a century. “ (In Iceland)

It sounds as if Icelanders are a lot more peaceful than Americans. There probably isn’t a State in America that hasn’t broken out the tear gas in 50 years. Imagine if American’s savings were “wiped out” and “joblessness soared.”

Companies cut 76,000 jobs in a day

It’s time to wake up folks. I don’t care what your politics are, we’ve got to do something and we’ve got to do it fast. Sitting pat isn’t going to solve anything. I don’t think tax cuts will either. Think about it -- would you spend any tax refund lightly if you were worried about losing your job ? Or would you sock it away for that rainy day that is coming ? Besides, we did that last year. It doesn’t seem to have worked does it ?

You might want to read up on the Works Progress Administration.

”Headed by Harry Hopkins, the WPA provided jobs and income to the unemployed during the Great Depression in the United States. Between 1935 and 1943 the WPA provided almost 8 million jobs. The program built many public buildings, projects and roads and operated large arts, drama, media and literacy projects. It fed children and redistributed food, clothing and housing. Almost every community in America has a park, bridge or school constructed by the agency. Expenditures from 1936 to 1939 totaled nearly $7 billion. “

That is what the current stimulus plan that is being debated is supposed to do for us -- before we reach 25% unemployment and our economy, currency and world collapses.

Don Brown
January 27, 2009

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