In light of the recent bailout brouhaha, here’s two posts from the past that are highly relevant still. The first is a post featured on this blog, Prose of a Pol, and is a satirical look at how to obtain universal healthcare for everyone in the USA based on how the banks were bailed out. Check out Five Steps to Socialized Healthcare for a quick look at how we could obtain healthcare for everyone. Make sure you check out the comments on that post for a great non-satirical discussion on the pros and cons of universal healthcare and how to improve our existing system. Oh, and if you can spare a stumble please do so!
The second post comes from one of my other blogs, My Last Name Means Money. The crux of Trickle Up Economics Beats Bank Bailouts is that bailouts beget bailouts and we see that today, with the first bailout causing no noticeable improvement to the economy, a second even bigger bailout bill is now working its ways through our political offices. The Republicans are right that these bailouts represent a slippery slope, however it is not the size of the bailout but merely that we’re bailing out failing enterprises and once we began to do so we removed a huge disincentive to fail. Now that failing can be profitable, will we continue seeing more and more large corporations reporting dire economic situations and accepting government bailout loans? Call me crazy, but I believe we should give out loans only when we reasonably expect to be repaid, not when the recipients are literally falling towards bankruptcy.
Check out these two posts and if there’s enough positive response I may post my updated thoughts on the latest round of bailout bills. Take care everyone!