Don’t Let Them Do It!

By Renn Vara

One of the great lessons I learned early in my working life is never be pressured into doing anything fast. If someone says, “The deal is only available now. If you don’t take it by this date/time, you’ll have missed this opportunity.” Always, always say ‘no’ when given these ultimatums. Right?

So why should we rush to spend $700B on a so-called rescue plan for Wall Street? This breaks all the rules I’ve grown to understand; free enterprise, the wisdom of markets, the role of capital markets, and the reality of failure. So what’s this all about really?

$700 Billion? Really?

By Renn Vara

Isn’t it amazing how much we don’t know? Does anyone have any faith that our political leaders and federal monetary pros have any idea what they’re doing? Echoes of false pre-Iraq assessments fill my brain when I hear these people say “we have to do this!” Really, do we?

I’m sitting here watching the cable networks, CNBC, Fox Financial, MSNBC, and of course CNN. I’m learning nothing. Only expanding my initial confusion. What about you?

We’ve Become Wimps

By Renn Vara

“I don’t know what I’m going to do. I hope FEMA can help me,” quoted by a homeowner in Galveston, Texas. This is the result of an economic system that doesn’t consider the health of the middle class. Those of you who are rich will now realize the truth of your wealth. If we don’t take care of the middle class, you will be forced to by a failed economy and/or government bail outs of banks and other financial institutions.

Now What Predictions

By Renn Vara

I so don’t want to be pessimistic about this latest Congressional effort to “solve” our economic woes.  But what choice do I have?  Their track record is not very good.

So here are my predictions for the coming year or two:

2009 Sucks

By Renn Vara

We should be enjoying our time off and being hopeful about 2009. But nope. I ended up spending another night running through options for survival. What happens if and when our January sales are well below break even? What do we do if this goes on for a few months or for god’s sake, the whole year? Who do we lay off and what impact will that have on our customers? And ultimately what will this mean for our family going forward?

I’m Confused

I know, join the crowd.  But why are our political leaders so quick to fund all these bail outs.  And to call them anything but bail outs is lying.

Just look at what’s happened with the first $350B or so.  All gone and all wasted.  I can guarantee that any loans given to the car industry will be lost as well.  They even say so themselves, “it will last no more than three months.”

We should let the car companies go bankrupt if that is the way it has to go.  I actually don’t think anyone will except for GM.   Trust me, investment bankers and competitors will come swooping in to buy them up and any unemployment will be short lived.  I’m fine with the government providing direct support to the unemployed and distressed homeowners.  I just don’t trust our ability to manage governmentally.

I’ve gone over this again and again as I’m sure you have and I come to the same conclusion.  We shouldn’t be bailing out any corporation or bank.  Individuals yes.

Where am I confused in my thinking?

I Love Chris Matthews

By Renn Vara

Ok, not really.  But did you catch him ripping a Republican Congressman a new one on Wednesday?  Damn.  He went after him accusing the Rep of “trying to change his uniform” in the middle of battle.  He drove home the point that our country has lost tremendous value in the last few days and repeatedly asked “Where is the President?!!”  And he made it abundantly clear that the current financial crisis – along with other minor issues like the war and our standing in the world – are directly related to eight years of rule by Republicans.

Keith Olbermann and Air America Are Useless

By Renn Vara

I am a proud progressive. Let me say that again, I AM A PROUD PROGRESSIVE! Can I now move past the bonafidies and say a few words about the angry left?

Education, the poor, the middle class, foreign affairs, infrastructure, jobs, equal pay, living wages, environment, big oil, you name it, we’ve lost it. Our Party, our Democratic and progressive leaders have failed us badly. Not only failed us but done us damage.

Republicans Are Assholes

By Renn Vara

Or more accurately, Fox News and their demagogues are assholes. After an incredible first night of the Democratic Convention, these right-wing propagandists worked hard to recast the night into an alternative universe of division, pandering, manipulation and lies. Really?

The Rising South

By Renn Vara

The pick of Senator Joe Biden as VP got me thinking. Why has our Party given up on the South? And if we have, does that pre-determine our demise in the coming Presidential election?