Like John McCain said, the issue of economics is not something I’ve understood as well as I should. I’m not the sharpest button on the calculator, and if I had an accountant I’m sure they’d have killed themselves by now.
However, I do like to think I have a grasp on the basics. Like, where the current “global financial crisis” is concerned. This, of course, is in no way the latest media-fuelled overblown crisis-of-the-month, although if you followed all the recent hype about food shortages or the credit crunch* or an increase in hurricanes, I wouldn’t be surprised if you thought the broadcast networks were just trying to keep the masses occupied.
I digress. So the financial markets are in turmoil because some big bankers and mortgage lenders have been playing fast and loose for years, and now their walls are crumbling round their ears. Okay. And now they’re being offered what are essentially blank cheques to save their asses – with taxpayers’ money.
Am I getting this right? Cos if you watch the English and American news, you’d think these guys are basically about to be saved by the same people whose futures they’ve essentially hijacked. Does that make sense?
Well, call me a commie or a hysterical shrieking populist idiot, but the idea of underwriting some filthy-rich CEO’s fallout from his Bad Mistake seems rather stupid to me. I mean, they were born of, and sustained by The Markets, right?
So let The Markets handle them in their failure. Isn’t that the idea of a Free Market Economy?
That you’re free to Win or, in this case, free to (Epic) Fail?
* Like WTF us a “credit crunch” anyway – and can I eat it?