A response to Hodge

(I originally was writing a comment on the blog of a friend down in GA, but decided to make a post out of it for posterity (if it lasts that long) and to get my opinion out there a little more....)


I am right there with you on the whole screwed up situation with these bailouts and how the money (that probably shouldn't have been paid) is being used by the pimps receiving it.

(I am referring to reports of bonuses, dividends, and acquisitions being made with bailout money instead of loans (to consumers, etc.)

Everyone talks about how letting all these companies fail will kill the economy and put us into recession.. (the autos, of course, being the big ones in question right now)... while I know it isn't this simple, I have several opinions on it...

1. Things were over-inflated.. we need recession (or call it correction) to some degree...
2. We are already in recession... (the doom is no longer impending)

and most importantly (in my opinion)

3. We, the people, are not going to let the economy totally go to shit. We need to eat. We need to ride bikes, drive cars, use the internet to get information, etc... When it comes down to it, we still have to live; so even if the economy is not so huge and not to ruled by corporations and such, we as a race will do what we have to do to survive and build an economy that serves our needs. People who are willing and able to work and be responsible for themselves and their lives will do what it takes to make sure that life goes on....

Recession may be scary for people with more at stake financially than me, and I never lived through the Great Depression, but I think most can agree that a lot of people need waking up, and that does include the people who happen to be in control of this sinking ship..... And keep in mind that many of the smaller pieces of that sinking ship can and will float on their own... but the ship needs to fall apart for that to happen.