I have to apologize up front folks... This is going to be one of those short, non diary diaries. I do not like to read these much, except when they get me thinking. Secondly, I am a retired knuckle dragger and graduate of the 9th grade so I forewarn you, the reader of my deficiency with the written word.
I hope that you find this of enough interest to get you thinking and that you do not decide this is a waste of time because your input matters to me.
I have been giving a great deal of thought to the financial situation over the past four or five years. I am an admitted non professional, auto didactic sort of person and being a non employable disabled veteran I have been looking for ways to keep my mind occupied. Learning about the financial markets, how they function and all of the various elements involved have certainly provided endless hours of educational diversion.
Like many of us I have seen this coming for some time and from my view point the issue has been one of I think it will go seriously sour, I just do not know the shape or timing. Well this week has been historical in many ways and there has been some excellent writing here at DKos on the primary subject as well as many of the associated areas of interest.
Listening over the years to the republicans preach the Grover Nordquist gospel of drowning the government in a concoction of their specially formulated toxic brew of excessive deficit spending, eliminating almost all serious regulatory oversight of industry, making a mockery almost entirely the concept of congressional oversight of the executive, waging a war of choice off budget while reducing tax receipts during a time of war the republicans have proceeded almost unimpeded with their mission. These activities have been a source of ever increased disbelief approaching excessive stress and concern for the future of my beloved republic...
I and many others have observed with ever increased alarm as they governed with a totally reckless disregard for any and all sensible governmental regulation and congressional abandonment of review and oversight of regulatory formulation and implementation of legislative priorities as intended when funded by the congress. A primary aspect of this governing philosophy that has driven many of us to distraction has been the social conditioning of the population with the belief that the industries and corporations being regulated can self regulate in a much more efficient and comprehensive manner as a serious governing philosophy and that any effort of the government to do these tasks were killing American competitiveness. This social conditioning against government regulating industries & corporations has reached such heights that many folks simply cannot understand why the financial system has now failed so totally that the financial sector now needs direct governmental intervention to the tune of a trillion dollars or more. This on top of the 800-900 billion already known in the public domain...
Many have grown ever more concerned with the republican borrow & spend governance in action with unchecked powers conferred to a unitary executive and a K Street project and with the ever more disastrous effects upon every segment of our beloved republic, states and communities.
Now that an election is upon us the market finally cracks so badly that it can no longer be hidden away from public view by a party & administration attempting desperately to push this off until the elections so that they could attempt to fix the blame on the incoming administration and with some "leaders" within the democratic party that are being manipulated by the fear that their contributions to the current state of affairs will be discovered. (Reminds me of a 6 year old getting caught with a mouth full of cookies attempting to say that; "No, I have not had any cookies")
Given all of this I thought I would pose a question to everyone that I have yet to see raised.
Here goes...
Getting to the subject of my exercise....