US economic crisis of 1929

Are we really in a depression here in America? The stock market keeps sliding downward and the news is foreboding when the subject is our nation's economy.

We are in the worse financial crisis since the 1930's. We are on the edge of absolute chaos and in the midst of it all; the publicity machine is white washing the problem to the point that it is a popular topic of interpretation for many expert financial analysts, pundits, and commentators. Our country's problem is being sugar coated and turned into entertainment so the masses don't panic, or worse still, get angry and demand that the government really do something about our impending plight.

The economy is a hot topic here in the United States, so much so, that our new president cannot say enough about it. Money will be thrown at the problem on day one when President Obama hits the ground running, January of 2009.

We cannot afford to risk another dollar with our financial stability depending on loans from foreign banks and countries. How many trillions of dollars in the red are we now?

700 billion dollars was used to bail out the private sector in 2008. Still, those financial institutions are failing at an alarming rate as currency keeps finding its way into that money pit, which is private sector banking. I think that the government of the United States should take over the banks here in America but the government doesn't know how to handle our tax dollars or invest money any better than the businesses they are bailing out. The government is inept at managing our affairs wisely. They haven't in the past so why should we think that the leopard has changed its financial spots?

Where is the oversight? Where is the accountability? All of the users of America's tax dollars have caught on to this one simple fact; if you don't, by law, have to account for the taxpayer's money then you cannot be accused of stealing, misappropriating or wasting that money. Just where is the money going, for what and by whom was the money spent? If you don't have to account, then you are free and clear to spend our money any way you choose. The lack of accountability is a blank check to squander the money in our nation's pockets. Let me ask you these questions? Are there people receiving money from our government who are actually enemies of the state and are they using that money against America? Which branch of the American government is watching how our money is spent? How is pilfering and corruption prevented in Washington? It is not!

The United States Government must clean up the way it accounts for the money that is being spent. It is too easy to steal from our government. How long has this loophole existed?

The habit on capital hill is to spend, spend, and spend some more. Will 2009 be more of the same or will the new president heal the hemorrhaging wound that is our economy? We are fighting for our very survival here in America. Jobs for the working middle class are dwindling to the point that companies are implementing plans to maintain their workforces under a lower profit budget. Smaller companies and private concerns have lain off thousands of employees across the nation and some of the bigger operations have cut back on their work forces and reorganized their assets in order to stay in business. In turn, the automakers are fighting an up hill battle with the economy and are thinking of ways to make a profit in order to survive this lean period in our nation's history. And, as if all this is just too bleak, more mistakes are being made by the very financial institutions that fell into disrepair as they created the onset of this existing fiscal crisis. We are rewarding incompetence and deceitful business practices by bailing out these companies, businesses, and institutions.

I watch the world news programs, read news articles and I scour the internet for facts. I also listen to the local people talking about the financial state of the world; we are concerned for the future. We are worried that our small businesses will not survive this very lean time.

Money has been flowing into the wayward hands of those selfish people who are dedicated to the profuse consumption of every last American dollar before the end of 2008. The war profiteers gorged themselves on Iraqi oil. As our armies moved into Iraq, they took over the mineral rights and other such resources as we gained control of that country. The greedy have been filling their pockets while the world watches and wonders how long this uneven distribution of wealth will continue. The upper echelon of the world's society gets to have the good life while the rest of the world suffers from the lack of resources and basic creature comforts.

I don't want our country to go bankrupt from mismanagement or because of the thieves and swindlers that are stealing from our coffers. We must demand an accounting or else we will be bled dry eternally by stupidity and these slick hucksters. If we make it easy for people to steal then they are going to help themselves, but if we make it hard to get hold of our tax dollars and stiff penalties are levied against wrongdoers, then the stealing will stop.

The money is flowing, that's true, but not into the hands of those who need it most. Where it is going is to those who are not financially good risks, the speculators, and the controllers of the money like the banks, businesses and the financial institutions who distribute this money as they see fit. Who is fit to borrow money here in America? The homeless, disenfranchised, unemployed, laid off and poor middle class cannot stand up to the scrutiny of these institutions. Still credit is wild and rampant in America now. Credit, the promise to pay in the future, has all but destroyed our economy in the United States, and around the world for that matter.

The best way to stop the waste is to stop all government spending until the checks and balances are put back in place and oversight is reliable again. Our finances will never be right until this is done. The administration in Washington must take the time to repair the bookkeeping department before the government can function properly again.

Another thing; I want the United States Government to investigate all the money spent, loaned or given away over the last ten years – a full accounting – not a general document advertising how well our government is spending our money. I am talking about a full all out accounting that gives the details of the expenditure and to whom the money was paid. We must see dollars and cents figures with the items detailed, in a ledger, so we can see who got what and how.

Our government must stop this waste and foolishness when it comes to the use of our tax dollars or any money that the government acquires. All of the government's money is our money, and we should control how it is spent. Local, state, or national, the government's money is the people's money.