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It’s not the credit woes, it’s the jobs

January 30, 2009

Yahoo has another article about the economy’s woes that are somehow targeted at the consumer loan level.  It’s not the credit people need right now, it’s the jobs.

I have no neighbors, nor family/friends who state that their most pressing need is the financing to buy another car or house from the banks; however, out of my closest neighbors, 50% of us are without jobs or only finding part-time seasonal work (if we are lucky).  Of course, we are living in Michigan, but I think the numbers for the rest of the population are probably similar.  Maybe only 1 in 3 people needs a job, but our work force in the United States is  constantly shrinking.  See this NPR article about the recent layoffs in the U.S.

We don’t need the banks recovery of credit to recover, we need to find more means of employment for the American people.  First consumers were blamed for spending too much (new cars, supposedly frivolous houses, way too much retail on credit), and now consumers are being pushed to spend more.  Finally, the large financials are figuring out that it’s the consumers that drive the U.S. economy.   Whoa, paradigm shift, you mean that the consumers NOT BUYING now is the reason the economy is tanking??  Give me a break.  The consumers may have played a small part in this whole scheme, but it’s really the lack of federal regulatory oversight into companies that lost millions of the consumers’ dollars.   Consumers just got wind of this when the Enron scandal broke.  Now consumers are being blamed again?  Crazy talk.  Who blamed Arthur Andersen (supposedly a reputable accounting firm–although I have more on that later) and who blamed the airlines for their crappy treatment and money mismanagement?  Well, we can’t talk about big business unless we list them, so here are star contenders for the Biggest Asshole Awards in Big Business Primer Guides.  Perhaps there’s a connection with how many have screwed the average consumer.

1. Enron:  How to bankrupt all your shareholders in 10 seconds and then get out fast.

2. Arthur Andersen:  How to bill yourself as a big acccounting business that builds the books–if you add extra zeroes, doesn’t that just add extra money?.

3. Martha Steward Inc:  How to use insider information and obnoxious management tactics that make your underlings squeal when you bilk people out of only tens of thousands of dollars (chump change, really, Martha).

4.WAMU: Leave and weep, for yourselves, not the consumers you just sold out.

5. AIG:  Let’s sell everyone insurance that will “keep them safe” and then go out of business.  Who needs to pay that shit back? Just say it was beyond your own control.  Everyone knows California wildfires and hurricanes are acts of God.  (Perhaps I will tell my lenders that too.)

6.Airlines:  Oh, yes, we have friendly skies, except when we don’t and then need a government bailout to continue to overcharge you for peanuts and yell at you to buckle your seatbelt.  The seatbelt bit is just to make us feel better, because it seems to work so well in cars.

7.Lehman Brothers:  Come give us your money so we can make some, or steal it for ourselves.  Gotcha!

8.Goldman Sachs:  Give us money and we will get bail out money from the government when we lose it all.  We have the better name, so for those of you looking for cash, just change your names.

9.GM: We will overcharge you for cars that break and then cry foul when people find out they have been cheated and want to buy foreign models.  Oh, and we will install stupid white men in power and put down minorities, send US jobs outside the country, bilk people out of their retirements, but we still have to fly by private jets because we have some standards.

10.Chrysler:  How to build cars with tinfoil.

Well, I could follow more of this cheering news, but I am getting a headache.  Anyway, you get my drift.  Why won’t consumers figure out that this whole recession is their own damn fault??  If they would only buy crap-ass products from crooks (and lo and behold those f**king consumers won’t now that the news is out), then this whole economy business would be fixed.  Come on people, don’t you know it’s all YOUR fault?

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