SitNews - Stories in the News - Ketchikan, Alaska


Bailout - No Consequences
by Ken Bylund


October 04, 2008

Fannie Mae, Freddie Mac, AIG, Bear Sterns, Lehman Brothers, Ford, GMC, California...why? Because the vision of politicians is limited to buying votes. Why not, it's free money? The continued siphoning of our money stream... our energy, that productive potential we earned, from January 1st to July 11th, encourages their bad stewardship of our wealth. All of them, Democrats, Republicans, Independents... don't see any innocent parties in this choice to poison the economic well of our nation; the cost of consistently bad judgment to allow lifetime careers in elitist roles.

These career Politicians encouraged loans, or were too cowardly to challenge loans to rich yuppies leveraging to the maximum or to them with no income, no jobs, and no prospects of paying or maintaining the properties. This "Bailout", is "business as usual", a destruction of the World economy, and now is being encouraged to continue; but what is the motive? This is simply "mindless collective suicide."

Is it just Dumb? Real estate brokers, each passing day, selling houses for ever inflating prices, homes easily recognizable to anyone with the perspective of an adult, seeing worn out structures on postage stamp properties elevated from urban renewal projects upward to the million dollar mark; and bought by young people, fresh out of university, who don't have the life experience to recognize the inflated danger of stepping into that La Brea Tar-pit. Banks, bundling loans, selling bad paper to other banks seeing thirty year loans with the potential of tripling their money... money for nothing, and somehow these government stooges who brought this to fruition, are voting... in a week... to burn $700,000,000,000?

Q!? Have we gone mad? That's seven... hundred... thousand... million. If this isn't a wake up call to them here in our little town, then what will it take? Debt for a shiny new $25,000,000 library, and more debt for the new $28,000,000 heated pool? And no thought, no discussion on our fragile economy or energy supply? Skateboard parks and free bus rides is what we get if and when we earn the discretionary potential. To accumulate wealth and stores for the necessities of life; fire and food, and the capital tools to maintain our survival, is a simple decision. Our immediate hurdle is getting the Mahoney Lake hydroelectric project harnessed and on line. Three times the potential [av. yearly mWh] as Whitman Lake, five miles away. One thing at a time, this should be our first priority.

Otherwise, we continue enmasse down this hedonistic road like the lem.ming \ small short tailed furry-footed rodents notable for the recurrent mass migrations which often continue into the sea where vast numbers are drowned; we are NOT PAYING ATTENTION, and the wolves are feeding on us with impunity. Do you trust our American leaders who supported this bailout? Them mighty rulers in Washington have chosen this easy, short lived path to Hell. The Gods must be Crazy!.

Ken Bylund,
Ketchikan, AK

About: "Ketchikan Borough Resident"

Received October 04, 2008 - Published October 04, 2008



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Stories In The News
Ketchikan, Alaska