Recession, Bailout and the American Economy

This is not capitalism. Todays' American government bailout of the whole recession is socialism - for the rich and powerful.

In many ways, it is worse than Marxism or communism, because at least those systems has the illusion of being for the people. Those systems at least preached the redistribution of money from the rich to the poor, even if they didn't practice it. Sort of story of Robin Hood The Prince of Thieves.

American bailouts takes the money from the poor and the middle class in the form of taxes. These people have to work harder and harder to earn the currency that is worth less and less.

Businesses in America like General Motors that grew too fat and lazy during the good times to compete in the bad times are saved from bankruptcy. Bank executives who are firing thousands of employees, both blue and white collars, are given millions of cash bonuses, being justified as retention bonuses.

These executives are entrusted with protecting and growing, instead the company's share price drops to bottom and investors both the public and general Americans lost millions of USD in the form of 501K.

Optimist will always says that no worries, the economy will bounced back again. Obama, the government, the Fed and etc will do their best to ensure that our economy to bounce back again.

Pessimist will say that the recession is not yet at the bottom. Look at the economy. Does the foreclosure and the employment shows any sign yet? Does the bank and other financial institution started to mass hiring again like what they have done during the bull run?

What do you think?

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