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Old 02-10-2009, 04:52 AM  
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Mutt, thank you for that awesome response. Good point regarding the "entitlement mentality." This is what permeated BOTH the Republicans' and Democrats' turns in dealing with this problem. Greenspan, under GW Bush, supposedly "managed" the Dot Bust bubble. He ended up creating a larger bubble. It burst now, so Paulson tried to "manage" the economy again with the first round of bailouts and that didn't work. Now it's the Democrats' turn to talk about managing the economy and get it out of this hole.

The truth is, Greenspan's 'fix' for the 1987 Wall Street short term meltdown cemented the notion that through active government maneuvers, the economy can be 'managed.' All the talk of "soft landing" or "managed recovery" proliferated. People began to lose sight of the fact that, yes... there is such a thing as a business cycle and it's okay--that's how the market corrects itself. People get greedy. They get owned. Market corrects itself. This government 'management' of the business cycle (and the extreme HUBRIS this represents) is really the HEIGHT of that entitlement mentality you described below.


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Originally Posted by Mutt View Post
the TRUTH is that nothing should have been done, no bailouts of anybody any industry - where on god's green earth is it written or decreed that because you are born on the soil of a country named the United States that you deserve and are owed the affluence to own a single dwelling home, two cars and all the shit you see at the mall? it's not - but that is the mindset of a big majority, this sense of entitlement that if they float through life and are willing to make the supreme sacrifice of working 40 hours a week they deserve 'the American Dream'.

the only way to change that thinking is to understand that dream isn't guaranteed or owed, don't fucking drop out of school at 17 and start knocking up chicks and littering the world with more losers, marrying and divorcing and expecting some mighty corporation like General Motors to reward your failure with a job that pays 30 dollars an hour for doing work a trained monkey might be able to do and certainly a robot can.

Tough times build character, you'd see people whipping themselves into shape, teaching themselves and learning new skills, becoming entrepreneurs, corporations more on the ball, more innovative, if what should happen - happened.

Corporations need to be held accountable, Joe SixPack needs to be held accountable, politicians need to be held accountable, Wall Street held accountable - racking up trillions of dollars of more debt certainly isn't gonna fix shit - because it will do nothing to solve the fundamental problems that drove the economy off the cliff.

Nobody wants to take the bad tasting medicine. They want a Messiah to fix it all up. Obama surely isn't that and nothing is going to be fixed.

And I'm not a right wing oriented person really. I've never bought any of the rhetoric and blackmail coming from the rich that taxes and government regulation will stifle growth and investment - where are they going to run off to? Canada? Europe?
They need to pay their fair share - why there's still no flat tax is beyond me. But to blame this whole catastrophe on Wall St, the corporations, the rich - no way. There's 50 million or so morons out there who deserve their fair share of the blame.

People won't starve, there will be roofs over their heads - they just won't have a 52" HD TV, cellphones for their themselves and their kids, restaurant meals - boo fucking hoo -

I knew kids growing up who never ate in a restaurant until they were living on their own and making a living. Their families got by on what the old man earned. And the old man was always inevitably some dude who dropped out of high school, got married young and had a bunch of kids and all he was qualified to do was some retail salesman job or low level office job. The lucky ones got decent paying factory work.
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