The R-Word

Recession; In the span of no more a few months the word is now ‘fair game’ in America.

An American Recession, no less. After only a handful months these two words can be freely connected in advertisements and in public media formats.

This after a time in which any Democrat or liberal spoke of a coming recession they were dismissed as ‘kooks’ and ‘doomsayers.’

I was one of those ’doomsayers.’ And I was right.

While the prevailing wisdom is to downplay a sick economy and a weak dollar I do not believe this to be the correct course of action.

If the economy is sick, we should know about it.

If the dollar is about to drop, we should know about it.

If a stock is about to devalue, we should know about it.

And on, and on.

I believe that one of the reasons we have suffered this recession is due to this very mentality combining with the ‘greed is good’ mentality.

A broadcaster, a stock quote broker, a banker or an economic journalist has no benefit to being truthful to their audience and every benefit to simply remaining mute. Or worse yet, talking up a business, stock or concept that they know to be unsound.

The idea that saying into a camera or many media outlet the raw truth of the economy as being a detriment to that economy is false.

The investors and consumers need to be able to make informed decisions. If those trusted to give honest and credible advise are proven to simply communicate in a ’one answer only’ situation then the reality of market hazards remain the sole property of those already succeeding in market endeavors.

Leaving us, the common people, out in the rain.

 

Eric Lightborn

http://ericlightborn.blogspot.com

March 29th 2009

Caps-Lock Engaged America

“populist outcry”

“socialist agenda”

“economic outrage”

We are hear these words connected in the Big Buzz of the Media, lately.

We live in a state of economic chaos. Right now, today.

As an internet-blogger I call this state we exist in “Caps-Lock Engaged America.”

My need to translate everything into internet terminology is no doubt why I prefer this way of describing the current state of affairs in America.

These pundits and talk show hosts of the right wing seek to drum up fear in the public, nothing more.

In the absence of logical arguments they simply wish their audiences to suspend all logic and proceed to believe in conspiracies.

The left wing is busying itself with AIG-Hate while shunning these new Populists as madmen and radicals. We are neither.

These are the very same kind of ‘madmen’ and ‘radicals’ who helped to form the Democratic Party of our day, but I digress.

There is no shame in being upset. But direct your anger.

President George W. Bush spent this country broke as if it was his personal play-thing to abuse and mistreat as he would.

One of the primary functions of a President of the United States of America is to be a Steward of the American Economy.

The previous President not only failed in this, he failed so miserably that his actions in this area specifically are in fact criminal.

President Bush had an obligation to use his position to inform America of the coming recession. Yet he joined in the chorus of conservatives who claimed all was well in the economic seas.

The ’proper’ blame doesn’t stop there.

The major leaders of financial institutions, those chairing relevant boards and countless figures in the media all failed in this exact same respect. 

These individuals had a duty to the American public to inform them of an impending crisis that would directly effect their home life and personal budget.

These individuals knowingly withheld information from investors and consumers in a clear effort to destroy any chances we had at mitigating the coming storm.

Some moved funds into bonds instead of stocks. Some transferred funds into foreign currencies. Some bought precious metal portfolios.

But many more simply did not know or would not listen to those like myself who warned of this coming American Recession.

 

Eric Lightborn

http://ericlightborn.blogspot.com

March 29th 2009