MrsObvious's Blog

Hello to all of NE Wisconsin this fine day.

Does anyone fear the appearance of an increasingly socialistic government that seems to be forcing itself upon us? It seems to be global at this point...just this morning UK announced they've taken over three major banks...aka 'nationalized'.

Perhaps my political education is not what it should be, but is anyone else concerned about this trend to nationalizing the financial institutions? Seems to me that our independence is being taken away, a dollar at a time, and government is forcing itself deeper and deeper into our everyday matters. I have no answers, only questions about it all. Seems as if the trend is toward 'nationalizing' health care, and I don't think the citizens understand the dark side of it all. There's only a certain amount of money to be spent on health care. When the care is nationalized, you may not get the extraordinary care you need....ie: In Britain, if you need a kidney transplant due to kidney failure, you can't have one if you're over 55. They'll certainly offer dialysis or comfort care, but you're not going to get a new kidney if one is available. They'll go to people younger. In Canada, if you need a hip replacement you may not get one for a long time due to expense and allocation of money.

It seems, to me anyway, that in a capitalistist economy and society, if you have the money to purchase what you need you'll get it. No matter the age or circumstances. If you don't have the money or means, it's 'too bad for you'. In a socialistist economy and society, the best medical care and expertise will be given to those who are younger, more able to serve the socialistic structure for a longer time and those who are no longer able to contribute to the structure or economy are out of luck. It's a way of weeding out those who are deemed no longer able to contribute to the society as a whole.

If we are going to save our democratic footings, we need to sever our dependence upon government to 'save' us from ourselves. Unfortunately, we seem to have become a nation of people who are increasingly looking to the government to save us. The entitlement programs choke the economy, and that's because we've grown dependent upon Medicare, Medicaid, Social Security and the like. We've listened to the call of marketing experts who offer easy credit, loans for this and loans for that and have imbedded the theory of everything is available to everyone, no matter if you have the ability to pay for it or not. Now that the borrowing has overwhelmed savings, we find ourselves in a quandry of debt with no hope. We have created multiple generations of families who are dependent upon welfare, food stamps and subsidized payments to enable them to live as they, seemingly, put forth little to no effort to be independent and hard working. Why work when the government will put food on your table, provide you with healthcare and a roof over your head? Why go without anything when you can go to Titleloans and take out a quicky loan to cover the cost of something, that in years past, you'd have gone without or saved for?

I'd like to retire soon, but I can't now that my savings and investments have puked. I never did count on Social Security, but I wish it had never existed and created generations who count on it and never saved because they knew it would serve them. It's been a long time in coming, but to me, it's OBVIOUS that we've gotten lazy, careless and stupid. Now we have to pay the price. And it's not going to be pretty.

How many of us are watching our life savings wither and blow away? How many of us are getting ready to cash in the penny jar to buy groceries? If you're like me, you're worried about this mess. VERY worried.

HOW did the boys in Washington let it get to this point? And where were we? Why did WE allow this to happen? I know I don't pay as much attention to the goings on in Washington as I should, but I'm paying attention now. I wish I'd have seen or heard more news stories on the warnings that have been issued about this current financial catastrophe that we're in right now. I wish I'd have been more proactive with my representatives and challenging them more on the financial state of the union. For now, all I can do is call my financial rep and pull out of the stock market and hunker down with low paying CD's that will at least stop the bleeding. For now, all I can do is become angry at being fooled again by the high powered CEO's, their complicated and greedy method of creating prime investments out of subprime borrowers. All I can do is hope that Barney Frank and the rest of the Democrats who pushed for 'housing for ALL Americans, no matter how lousy their credit or inability to pay a mortgage' find themselve on the outside looking in. And soon!

I'd LOVE to have someone address the country...perhaps it should be ME and tell the citizens why credit has dried up. id: Supposedly why no one can get a loan. Folks...it's not US who can't get a loan. It's the BANKS. And, the banks won't loan to each other because they're unsure of their solvency. The banks don't trust the other banks. That's how crooked they've all become. And the banks won't loan to big business now because they're unsure of big business' ability to pay in their credit shutdown. McDonald's can't open another 15000 coffee bars due to lack of credit. They can't get the loans. Whoever their bank is can't borrow the money from another bank as the banks are now depositing this 700 billion bailout in their own accounts to protect their own cash assets. They're not loaning it to each other which is what the entire bailout was designed to do...they're tucking it away in their own vaults.

Hey...guys in Washington...I"m sure glad THAT plan worked!! What ya got cooked up next? Buy up all the mortgages on the books for pennies on the dollars and reduce the financial worth even more? And, when you start to (supposedly) earn money on this investment, will you put the funds elsewhere rather than back into the budget for the overwrought and overworked taxpayer? I suppose they could use some new hand carved Italian marble bidets in the Congressional toilets....

WHEN are they going to stop raping the middle class and the taxpayer? WHAT are we doing to have to resort to....? Mobs in the street smashing bank windows? If Wall Street, the White House and Congress don't get their act together, that is going to be what happens. It's OBVIOUS to me.

I wonder what our highly esteemed, elected officials will do today when it comes time for a 'vote' on the financial rescue plan. I can't help but wonder if they are voting what is truly in their hearts, or are they pandering to their constituents to sustain their electability.

One of the radio pundits yesterday announced that few Americans trust their government any longer. I have to agree. We find ourselves being cheated, pushed around, taxed to death with increasing loss of independence and personal responsibility. I must admit, that I feel we wouldn't be in the mess we're in now if credit standards had been kept where they were. I also understand that the more financially challenged should be given a hand up as well. But, when it comes to credit you either have to be able to pay it back or not. There shouldn't have been any of this monkey business with customized loans, ARMs, and the sense of entitlement that was pushed into the American consciousness. Credit calls for personal responsibility, and if that had been stressed rather than 'you're entitled to a house just as nice as your neighbor even though you can't afford it.' I truly feel we wouldn't be awaiting this 'rescue plan vote'.

Due to the negligence of the financial industry and their greed and avarice about making money off those who truly couldn't afford to spend it, the rest of us are digging even deeper to help them out of their self induced mess. I don't know what the answer is. Maybe we should just allow the credit flow to dry up and force ourselves to be more resilient and self reliant. But, I fear it would cause thousands of jobs to be lost. I don't feel we have a choice in this matter. I think it's a huge step in the wrong direction. I think we're becoming a socialist nation with this latest fiasco of mismanagement, unbridled greed, no regulatory oversight, and forced dependence on the government to 'fix' the problem.

The social lines are being drawn between the 'workers' and the 'leaders'.  The 'haves' and the 'have nots'. I think this country is facing a scary future if we don't do something about it.

I can't help but wonder what, exactly, is going on behind the closed doors of Washington DC as our elected leaders hammer out a 'plan' to rescue the overextended moguls of Wall Street. I've been trying to figure out who this 'bailout' is supposed to benefit, but so far, I can't make sense of it.

If I have my facts straight, it goes something like this: The lending industry, as well as the housing industry was under pressure to create more avenues for the average working American to own their own home. Credit rates remained low as housing values inflated with the demand. More and more homes were sold to people who truly couldn't afford them, but they were sold with ARM's at incredibly low rates to make it even more attractive.  In the meantime, those who had equity in their homes took out HELOC's (home equity loans or second and third mortgages, actually) to purchase additional real estate so they could participate in the housing boom.  The holders of the mortgages bundled them up and sold them as 'investments' to the Wall Street investment guys who figured the incoming loan repayment dollars would give them a sustainable revenue stream. Then, the jobs started to leave the country, no loans could be repaid, the mortgages went sour, the housing market deflated as demand withered and now people are stuck with mortgages that far exceed the true value of the real estate.

That's how I understand it, anyway. So....now Congress, led by Secretary Paulson and President Bush, is putting together a package that would BUY these bad mortgages? I'm just trying to understand this all....in essence..the US govt. would become the landlord of those teetering on becoming homeless and bankrupt? Are the Wall Street titans going to sign over the titles to the numerous properties involved, or keep the money and give Main Street, USA the finger as they pop a bottle of wine and dine upon truffles and moan about the 'little people'.?

Another concern: If the government is your landlord, isn't that a bit like socialism? Communism? Are we being steered away from democracy and more toward a socialist state? Alot of our right to privacy has been taken away already due to the 9/11 attacks, and I understand the necessity of keeping the country safe, but this latest move is confounding me.

The doors are closed. No one is talking about what's going on. No one is addressing the reporters questions of WHO this 'bailout' is supposed to benefit. It's OBVIOUS that things are not quite kosher, and that Congress is lost and confused and can't agree on how to help the citizens of this country. I can't lay the entire blame on George Bush, but he deserves most of it. His legacy will be one of ineptness, inefficiency, egotism, inablility to lead and the guy who crashed the economy.  The fact that Congress is milling about, unable to decide what to do is proof of ALL of them being inept.  Maybe it's a good thing that doors are closed so we can't see them at their worse.

Anybody? .... Anybody.....? (Bueller...?)

If so, I have a few questions I'd like to pose to you. How do you sleep at night knowing your car cost more than the majority of your employees make in a year? How can you look at yourself in the mirror knowing you lied to the shareholders about the strength and integrity of your corporation/company? How can you possibly justify an annual income that is obscenely filthy rich to a regular working class person?

Due to your diligent stewardship of the economy and your ethical attention to the needs of the future generations, we are now indebted and sold to the highest bidder. You have enabled a creation of class that will not cease or stablize for generations to come. Let's see...we have the CEO class, like you. Wealthy, provided for, stable and secure. Then we have the middle class, which is no longer regular working people, but people like doctors. After them, comes the working class, who is at the mercy of their employer. The working class that owns the average home, drives an older vehicle while paying taxes and supporting their families. Then, we have those who don't have a job any longer. No health insurance. They're forced to sell their homes, or lose them due to not being able to make payments. At that point, you dangle 'easy credit' in front of them...'go ahead...take out a second, third, even fourth mortgage, consolidate your bills and we'll make  it even EASIER to extend MORE credit and as you fall into the pit of relentless debt.'

Due to the current conditions of the economy, I would say that it's caught up with you. You managed things in a reckless manner that the most basic of working people would never do. All the financial institutions drooled at the thought of the working class making 'easy' monthly payments with astonishing interest rates as you paid squat to your shareholders. Responsible fiduciary stewards would have tromped on the easy credit wave that swept through the country , but noooooo...you encouraged it and looked forward to the millions of dollars flowing in on billions of dollars worth of loans that would ensure a revenue stream for years to come. I guess you didn't factor in NAFTA, and the wholesale loss of jobs. I guess you forgot that people need to support their gas guzzling cars and trucks, and feed a family as they strive to save for education and health needs.

I thought Ken Lay (late CEO of Enron) was the poster boy for corruption, lack of integrity and total ravaging of his employees, but you guys today.....you win the prize! And now, you need the Federal government, who is backed by....ahem...the working class taxpayers....to BAIL your sorry behinds out because things have caught up with you.

How much more are we supposed to shoulder? How can we pay more than we're already shelling out? Where is the money to come from when the jobs are leaving faster than underage kids at a busted beer party? Do you guys actually BELIEVE that New Page, in Kimberly, will actually reopen their mill when things are better in the general economy? I know that's what you tell each other, and the employees who are now facing financial ruin and an end to the lives of work they've crafted.

It's about time someone made you face the facts. It's time you pay for your reckless behavior and inhumane treatment of the working class. Of which, I am a proud member. I vote, but for what? It seems once they're in office, they forget about their neighbors, their former co-workers, their former budgets and living within their means.

I'm tired of it.

Hard to imagine the incredulousness that must have gone through the minds of NewPage employees when being told their jobs are being eliminated, and that the mill will stand empty rather than being sold.  Hard to imagine the increasing cynicism and mistrust that is building in them as they recall the promises that mill management made to them after the first round of 125 layoffs that that was the end of it and they'd be fine from that point.

I understand that we can't rely on our government to employ us, or keep our jobs viable or maintain our standard of living. What galls me is the reaction of the local elected officials who seem to shrug and discuss that maybe they can develop the property into retail or condo's. That was the reaction when PH Glatfelter in Neenah was closed. I didn't see one local official who seemed distressed at the loss of over 200 high paying, tax producing jobs. In one interview, the Mayor of Neenah seemed almost gleeful over the potential 'development' of the water front propery. I witnessed the same when the President of the Village of Kimberly was being interviewed. He didn't express remorse for the loss of 400+ jobs, but seemed rather eager to move along with potential water front development.

This may seem OBVIOUS to myself and the rest of the 'working class', but without jobs, WHO is going to go shopping....or live in waterfront condo's? WHO is going to pay the taxes that will support this fantasy development? The people of Wisconsin are being taxed to death now, and it's only getting worse. Now Mr. Doyle is going to sign a bill reducing Wisconsin's greenhouse emissions by 22% over the next 14 years. I think it's a noble effort to help our planet and those of us who inhabit it, and is also necessary if our descendants are going to have a quality life free from pollution, poison and waste, but is he putting equally strong action into KEEPING jobs in our fine state? Is he, and the local govermental leaders equally committed to discovering and nurturing alternative industries that will allow a healthy percentage of the population to prosper and raise their families and contribute to their communities? I must admit that if Doyle and Co. keep on their present path, it's quite OBVIOUS our greenhouse gases WILL be reduced as none of will be driving because we can't afford gas. We'll be heating our homes with renewable resources, such as wood we find in our yards, as we won't be able to pay the light and heat bills any longer.

It's sad when the officials that we elect to office on the premise of serving the taxpayers, and being good stewards of the economy and general welfare of the community, appear to be more eager about potential development than to save existing, family sustaining jobs. How many more jobs are we going to lose, and how long are we going to continue electing officials who don't really seem to care?

I, for one, am weary of the continued glum outlook for the economy, stories of CEO's making millions of dollars for running a corporation into the ground, and the only response the local government has is barely concealed glee at the potential for 'development'.