"The market is not functioning properly."
These are the words I just heard George W. Bush speak on CNN in justifying why he feels he should set aside his traditional capitalist tendenices, in favor of a more... (How should I say this?)... more SOCIALIST designs.
Now, for those of you reading who may not be aware, "socialism" is a dirty word (a VERY dirty word) in the United States. Even trying not to use the word in the pejorative sense usually gets you branded as a COMMUNIST, or financial rapist. And with George W. Bush being a die-hard capitalist, it's almost surprising to see him supporting a pseudo-socialist tactic to "save" a major portion of the American economy.
It's ALMOST surprising, but not not truly surprising, because he's not really giving into the supposed evils of socialism.
No, in truth, it's not really a socialist construct he's trying to force America to use to save the huge investment firms that are tanking. It's something I've heard best described as "CORPORATE SOCIALISM." For, you see, the Bush administration has no desire to help any INDIVIDUALS or FAMILIES that have fallen under the current economic bus. However, since the economy is not "working properly," the companies deserve resucing.
Why?
Well, if you accept the president's explanation, the economy stopped "working properly" when all the evil, and lazy individuals out there in the United States took out loans they couldn't afford to pay back, and when interest rates went up, those individuals ALL screwed over the big, noble corporate investment firms.
There was very little mentioned about these investment firms and banks allowing themselves to let out loans they KNEW most people couldn't pay back in a crisis. There was NO mention of the remarkably ridiculous practice of "short selling" and how that form of financial speculation has been devouring the foundation of many large corporations for the last few years. (If you don't know what "short selling" is, look it up. I only vaguely understand it, but it's a real eye opener on how greed can breed some diabolical forms of financial creativity.) There was, in fact, almost NO blame levied onto the companies that helped in creating financial opportunities and tactics that would devour our economy's foundation from within like so many rampant, greedy termites.
According to the president, "the economy is not functioning properly" only because of greedy and stupid poor people that didn't know any better. True. I agree they were a huge part of this, but I believe the companies that employed these self-destructive economic policies are even more culpable. AND, the most culpable people of all are those who put the Bush administration in power in the first place.
This is why we have this so-called "corporate socialism" in place now bleeding the American taxpayer in order to save corporations, investment firms, and their bosses. Yes, if these companies fall farther than they already have, then the US economy is heading for doom, BUT the individuals and families in this nation who are struggling also deserve a "bail out." However, Bush doesn't deem that a necessity in his economic crisis plan.
No.
Those people fucked themselves, and the companies from whom they borrowed money.
That's why we cannot call the "Bush Economic Bail Out Plan" a bit of "corporate socialism," or even just "socialism." Employing any elements of true socialism into this plan would just be far too fair to too many people, and too hard to stomach for all the rich bosses and their friends in DC. That's why we have to call all this exactly what it is... "THE GOOD OL' BOYS CLUB." It's like a bunch of late 19th Century robber barons coming together to rip off the country as a whole to save anyone within their small club.
Remember, this is all because "the market is not functioning properly" NOW. If all the individuals and families got ripped off, and none of these companies fell, then the market would be functioning properly according to Bush and his cronies. That's what is supposed to happen.
Companies rip stupid people off and get rich.
Stupid people fall under the bus and die.
That's the market functioning properly in Bush's USA.
The only problem arises when too many corpses are on the road stopping up traffic and breaking the axles of the rich.