I don’t profess to being nor do I even think I am an expert in anything. I just think read and write a lot. In case of my writing, mostly nonsense if you ask my wife. I am giving some of you a good opening for responses here.
But what the hell happened these past 4-5 years to get us into this mess we are in? Ha?
Here is what I think as a non expert: Wall streeters and oil companies saw an opportunity to rape and pillage and they did. Really well. How? Unregulated monetary instruments on one hand and subprime mortgages on the other as well as pumping up of the price of oil from $64 to $140 in a matter of months.
What is worse, noone said or did anything. We were all busy with the color of Lindsay Lohan and Paris Hilton’s pubic hair or lack thereof. No really, why didn’t anyone say or do anything?! Just like the people in Iran, we have become so apathetic. Well, we are probably worse because at least here if we protest, we don’t go to jail or die.
Gasoline prices shot up daily and we, like idiots, just filled up the tanks to our SUVs; first $45 to fill up, then $60, $80, $90 ……..
The general public should have protested. I did everytime I went to a gas station but noone paid any attention. Most people ignored me like I was a mental case. But with regards to the sophisticated and non regulated insurance instruments traded on wall street, how come none of the “people in the know” did anything? Were they on the take? Why are we paying up on these mortgage default papers?! Goverment should declare them illegal.
I have 2 teenage boys and I am really worried about their futures in case we fall into a depression. They will start their adult life in a much worse situation than their father.
What do you think happened? Are you worried about your kids like I am or am I being too pessimistic?