Can the geniuses in Washington straighten us out

Last week, the politicians and bureaucrats in D.C. told us if we didn’t understand the need for a $700 Billion bailout of nation’s financial markets, we were dumb.

Last Monday, when a majority of the House of Representatives listened to us dumb mullets they voted down the bailout. The proponents of the bailout were quick to point out how terrible it was that the Congressmen who voted nay weren’t statesmen enough to do what’s best for America.

Gloom and doom. We were told the 401k and other retirement portfolios of the widows, orphans and elderly was crashing.   The old folks would soon be unable to buy food to eat and would have to live in the streets.

Following the failed vote, last Monday, the bailout the stock market dropped over 700 points.  The politicians were quick to say “I told you so.”  Yet, the next day the market rebounded and almost wiped out all the losses.

Happy days. The threat worked.  Last Friday, Congress, following the lead of the smart folks in the “upper chamber,” voted to pass the bailout.

Following the bailout passage the stock market which had risen by about 400 point earlier in the day, suddenly went down the tubes.  Say what!

Today, as I write this (1:45 PM CDT) the market has dropped over 700 points. The market is currently at its lowest ebb in years.

The stock market nose dive begs questions for which we need answers from the geniuses who caused the mess and who also concocted the Rube Goldberg bailout:

— Now, what’s going to happen to the widows, orphans and elderly now that their retirement portfolios are continuing to sink?  Will we build poor houses?

— How is repeal of the 39-cent Excise Tax on wooden arrows made for children going to benefit the retirement portfolios of widows, orphans and elderly and free up the credit market?  Is this an effort by the anti-gun folks to move our children from guns to bows and arrows?

— How is a tax break for race-track owners going to benefit the retirement portfolios of widows, orphans and elderly and free up the credit market?  Will they now be able to buy lunch at a race track on credit?

— How is a tax break on rum imported from Puerto Rico, going to benefit the retirement portfolios of widows, orphans and elderly and free up the credit market?  Will the drinking age be lowered so the kids can forget their sorrows on cheap rum?

— How is a tax break for worsted wool makers, going to benefit the retirement portfolios of widows, orphans and elderly and free up the credit market?  Will it keep them from itching because of wearing “unworsted” wool?

— How is a tax break for Hollywood film and television production companies going to benefit the retirement portfolios of widows, orphans and elderly and free up the credit market?  Will their cable bills and the price of movie tickets go down?

I admit, I’m too dumb to answer these questions.  I look forward to the geniuses in Washington enlightening me.

C.B.

 

Be the first to comment

Leave a Reply