Friday, April 1, 2011
Who's controlling this monopoly? Certainly not the banks!
I believe the U.S. National Government is not setting a good example for future generations by bailing out industries that “are essential to keep our country operating”. If you have ever played monopoly, the objective is to accumulate most of the property on the board so you have a steady income. As the game continues, things happen, and sometimes you have to mortgage your property to the bank or straight up sell some property to an opponent. When the roll of the dice has changed you slowly get knocked out of the game. Now, what’s going on here in America is our government has decided to change the game up. They made the choice to give money to failing companies under the notion that if these corporations were to fail, which they already are, would cripple the economy and America. So the same people who’s “roll of the dice isn’t working for them” are still operating and managing the still failing corporation just with more money. Our government is teaching future generations that if you start a corporation and it is successful for X amount of time and is being used by everyone in society and if it starts to fail… DON’T WORRY. Every citizen who pays taxes will help you out with out their consent because the government will just give you money since your so essential to our nation. When you change the game to make things easier you will find that the end is much more devastating than if you had not bent the rules. And so the never-ending game continues... with new rules and bailouts.
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William, you are absolutely right about the government setting a bad example for future generations by bailing out the banks. They should be held responsible for their own actions. Many U.S. banks have taken advantage of people for long enough with their predatory lending practices, sub-prime loans, outrageous fees, and sky high interest rates. It’s just silly to think that the majority of people that are suffering from the actions of these irresponsible financial institutions are struggling working class Americans. The CEOs of these companies shouldn’t be given bonuses and seven figure checks. They should face consequences for ruining lives and bringing down the economy. Not to mention bankrupting entire corporations.
ReplyDeleteThe money that the banks are getting are actually being created by the Federal Reserve, which is a large privately owned bank that loans out money to the government, who in turn lends it out to national and local banks. At the bottom of this hierarchy are individuals who borrow that money and are obligated to return the principal amount including interest. The interest that we pay on our debt is shared between the banks, the government, and the Federal Reserve.
In order for our society to function on an economic level, these loans need to be repaid. This is an endless cycle of debt that allows the wealthy few to profit leaving the rest of the population trying to make up for it.
Debt is a modern form of slavery where people are forced to work to pay off that debt. The people at the top of this food chain are the ones who created this game that we play. Therefore, they are the ones that decide when to change the rules or make some up as they go along. The whole objective is to keep people playing.
I found the blog posting by William Berry entitled "Who's Controlling this monopoly? Certainly not the Bank!" to be very interesting. Although the blog posting seems to be more based on opinion than fact, it is definetly an opinion that I agree with, and after all, that's what blogs are for anyway. I thought the paralell drawn between the classic board game Monopoly and the large american corporations constantly receiving undue financial support was a great illustration, and would be helpful to someone who doesnt quite understand the impact of these "Monopoly" corporations. Additionally, I absolutely agree with the author's point that the bailing out of these corporations does not set a good example for future generations. In my opinion this is similar to the way everyone believes they can charge up massive amounts of debt, file bankruptcy, and then start over. The point that everyone will "Give money without consent" stood out to me as well because many people are paying taxes that are ultimately used for example to bail out a large bank, yet when these same people visit the bank to take out a loan they are not approved. Meanwhile, at the next desk over, someone else receives a loan with Joe Schmo over here's tax money.
ReplyDeleteThis comment is for Dat, who mentions some kind of slavery for people who have to work to pay debt. Do you know anyone who lives above their means? This person is probably the slave who has to work to pay his debt! Just ask this person how many times he was whipped to go eat at restaurants, buy clothes and unnecessary stuff that is only good for the ego.... we just reap what we sow, my friend.
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