Contact Us    
An Engineered Calamity

Make a profit, not a killing.

by Everett Wilson
March 22, 2008

Bookmark and Share
An Engineered Calamity

The economy of the United States is now in the same condition as a householder with too many debts; borrowing works fine until you run out of lenders from whom you can safely borrow. Then the loan sharks thrive. In international terms, the loan sharks are now in the Far East and the Middle East. We no longer have enough credit to borrow from ourselves, at least at the rates we think we think we  deserve. 

I am writing this in my pajamas because of the disingenuous statement by the Vice-president this morning on GMA, that the current financial crisis was created at least in part by the housing crisis. He said it as though it were a surprise, and the interviewer let him get away with it. I couldn't wait to respond.  

The statement was cynical or stupid, not wise and circumspect. The financial crisis was not created by the housing crisis; it was  engineered by  the persons and institutions who willfully forgot that the purpose of the housing industry is to provide homes for people, not windfall profits for themselves.

Yes, we expect a good return on our investments, but we should no more play the housing market to make a killing than we should bankrupt Safeway and sell off its refrigerators. It may be ethical to make a killing on the latest gizmo from Apple or Microsoft, but not on homes and groceries; such an effort has no more ethical or intellectual credibility than a chain letter. 

Of course it doesn't work. Sooner or later it becomes impossible to buy, sell, or borrow. Those who engineer  the calamity hope to be the last ones to sell at a profit and run with the money, leaving in their bitter wake the ruined hopes of millions of former home owners.  

It happened, It has happened before. The milk is spilled. Let's move on. The lesson is, next time don't let the same people handle the milk!        

Comments (2)

Post a Comment

Bob McNaughton from Middletown, CT writes:
March 23, 2008
Everett: is it not just possible that a trillion dollars, borrowed mostly from China and the Middle East, to pay for our occupation of other countries, has contributed just a bit to the financial crisis? Nearly every dollar used for the Current Occupant's war is borrowed, while tax breaks have been given to the well-to-do. Thus the financial community faces tight shortages!


Everett Wilson from The Partial Observer writes:
March 24, 2008
What Bob M. said is what I was trying to say in my first paragraph. What loan sharks do to their neighbors (whether they are street corner operators, banks, or government agencies), nations seek to do to each other. A robber-baron mentality at work. The personal tragedy of foreclosure or bankruptcy may become the international disaster of economic collapse.

Send Us Your Opinion
(Comments are moderated.)
Your Name:*

Your E-Mail Address:*
(Confidential. Will not be published.)


Note: In order to control automated spam submissions, URLs are no longer permitted in this form.

Please type the letters you see above.


Bookmark and Share

Real Things
A novel.
Published January 2, 2008
Temporarily Unavailable

Real Things first appeared in serialized form on the Partial Observer in 2001. It is now available in print for the first time.

Over thirty years after a senseless crash redefined his life, Greg Thompson and his family finally learn why.

More Information
RSS Feed for Everett Wilson: RSS Feed for Everett Wilson
Sign up to receive an e-mail notice when new articles by this author are published. Your address remains confidential, and you may cancel at any time. A confirmation email will be sent.

Your e-mail address:
po Books
Now Available!

Teachings of a Three Year Old... Turned Tyke,
by Hal Evan Caplan.

A father learns from the wisdom of his toddler.

More Information.

More by Everett Wilson
Necessary Things, A Companion and Sequel to Real Things
Available from Amazon Books, Amazon Kindle, and Me!
by Everett Wilson, 2/16/15
Until Barrett is Free, Neither Are We
Freedom of the Press is not a whim of the state
by Everett Wilson, 2/26/14
Why the United States Will not Get Competent Universal Health Care in my Lifetime
Six Obvious Reasons
by Everett Wilson, 11/15/13
An Open Letter to Congressman Jeff Fortenberry
Clean Sweep Time
by Everett Wilson, 10/2/13
An Open Letter to Congressman Jeff Fortenberry
Clean Sweep Time
by Everett Wilson, 10/1/13
Excerpt from my new novel, Scoundrels and Fools
Chapter 5: Ellis Johnson
by Everett Wilson, 7/12/13
The Rev. Marjorie Drickey's Last Message to a Dying World
And all the trumpets sounded for her on the other side.
by Everett Wilson, 2/14/13
» Complete List (151)

RSS Feed for Everett Wilson: RSS Feed for Everett Wilson

Recently Published
View Article A Prodigal Father's Day
The patient, persistent, unconditional love of our Heavenly Father
by Greg Asimakoupoulos, 6/18/21
My Girl Friday
A toast to all administrative assistants
by Greg Asimakoupoulos, 6/11/21
Two Giant Hands in Tulsa
Praying for forgiveness and healing
by Greg Asimakoupoulos, 6/4/21
To a Field of Dreams
Memorial Day ponderings
by Greg Asimakoupoulos, 5/28/21
Don't Mask! Don't Tell!
It's about time for about face
by Greg Asimakoupoulos, 5/21/21
Liz Cheney's Not Lon Chaney
Why recent events on Capitol Hill resemble a horror show
by Greg Asimakoupoulos, 5/14/21
A Mothers' Day Hymn
Remembering our moms with gratitude to our Heavenly Father
by Greg Asimakoupoulos, 5/7/21

Get the Partial Observer's
'recently published' headlines via RSS.

RSS Feed for Recently Published PO Articles    What is RSS?
Reproduction of original material from The Partial Observer without written permission is strictly prohibited.
The opinions expressed by site contributors do not necessarily reflect those of the editors.
Copyright ©2000-2021 partialobserver.com. All rights reserved.
Home · Site Map · Top