Letter to the Editor #3

Dear Editor,

The air of an economic crisis has been looming over the American financial sector for awhile now. It was only this week that three major corporations, Lehman Brothers Holdings Inc., Merrill Lynch, and American International Group (AIG), were under the fiscal gun. The government managed to bailout AIG to the tune of $85 billion before it could collapse and Merrill Lynch agreed to be bought by Bank of America for $50 billion. Lehman Brothers Holdings Inc. wasn’t so lucky, however, and filed for bankruptcy protection after the government decided that no financial help would be given to the company.

Congress is now in the process of passing a $700 billion fund which would be aimed at preventing the worst economic catastrophe since the Great Depression. This money would be used to purchase “toxic” mortgages and other debts which are being held by banks in the United States. By doing this, Congress believes that the banks of America will be more inclined to make loans for homes, cars, etc. available once again. It is also believed that once banks resume making home loans, the housing market will stabilize and the U.S. economy will make a sharp recovery from this disaster.

The catch is that this is only a hypothetical solution – there is no guarantee that this will work. As one can see, these figures are nothing to laugh about. The national debt is already nearing $10 trillion. If this congressional plan fails altogether, the nation is in for a serious economic and financial meltdown. This has left many people asking the question, “Where is this money going to come from?” The answer? The American people are still waiting for one.

==============================================

This is a Government class homework assignment I just managed to pull out of my brain in the last ten minutes.  Not too bad, I’d say.  Really gives the one-two punch.

Advertisements

Well, here’s what I think about the recession…

I have come to the conclusion as I sit here at my desk that the world is one big pessimist. Those who try to be optimists fail, and those who try to be pessimists… well… succeed.

The United States is in an economic recession. That is quite clear. Those who say otherwise are optimists. I am usually an optimist, but for me to say that the economy isn’t in a recession would just be ignorant and stupid. So tonight I guess I’m a pessimist.

What bothers me isn’t the fact that we’re in a recession – it’s the fact that people are complaining more than they’re actually doing something about it. Sure, people find that if they buy a cheaper brand of bread or cut back on nuisance expenses, they have some more money in the bank. But that goes to show how the American thinks… “Ooh, I’ll just adjust my purchase of food!”.

Ahh, therein lies the solution. You really want to save money? How about cutting back your satellite television subscription from the die-hard “Sit on your ass all day and do nothing” Package of 500 channels (five or six of which you actually watch attentively/know the channel number by heart) to the standard 150-channel package? Or better yet, get rid of your TV altogether and discover that thing outside called nature!

That’s one solution.

Next… do you really need Internet that’s faster than an Aston Martin? If everything needed to go that fast, Aston’s would be as common as Honda’s. But they’re not. Why? Because people can’t afford them. Learn to drive in the slow lane and downgrade your T3, satellite Internet, or cable connection to something a bit more wallet friendly. Would it really kill you? Didn’t think so.

I’d say I’m sorry for ranting on like this, but I’m not. I’m tired of watching the news and listening to people complain about just how hard this is hitting them when, during the interview, they’re standing in front of their house and there’s an Audi or a Hummer in their driveway. People need to figure out that “making things easier” doesn’t only mean making sure that every single thing you buy at the grocery store is the cheapest brand that’s on sale… it also means giving up luxuries until this firestorm subsides.

If people stopped complaining, things would get better. Learn to adjust. And for God’s sake, stop interviewing whiny rich people on the 5 o’clock news. The other 95.5% of us really don’t care about you and your complaint that you spend $100 every time you fill your Hummer up at the pump. Buy a fuel efficient car! Is it really that complicated??

With that off my mind, I’m going to sleep.

=D