To Big To Fail

There is a huge problem right now and it's about to cost the American economy even more money! It is the concept of 'to big to fail.'

That's what was said about Chrysler back in the late 80's when they received their first bailout in the form of a loan from the federal tax payer. That's what happened with the Savings & Loan bailout that created the Resolution Trust Corporation.

To big to fail? Didn't we learn our lesson? Now we're at it again. Banks that are to big to fail! The problem was the repeal Glass-Steagall Act and Clinton's signing of Grahm, Leach, Bliley which deregulated the banks, securities and insurance companies allowing them to compete with each other and even combine operations.

Now CitiGroup is 'un'grouping and Bank of America (who thought it would be a good idea to swallow up Countrywide Home Loans) is getting another infusion of capital from the Feds. We're talking tens of billions of dollars of our money!

Well, as I think about it, I guess it isn't our money yet. From what I understand the Feds have the printing press ramped up and ROLLING! The green stuffs flying off the presses faster than lemmings over a cliff! (excuse the obscure reference to a 1980's arcade game, but you know, I'm olde! LOL)

The point here is that we keep buying into this to big to fail concept. Now we're creating a situation where our debt is escalating from an already unfathomable high amount and the dilution of our currency may some day create hyper inflation!

It has to stop! Yes, there will be some pain. We have to remember that we have bankruptcy laws for a reason. It's so businesses can restructure.

The bottom line is that we need to restructure our entire economy. We need to change from a spending economy to a savings economy and the only way to do that is to leave this 'to big to fail' concept in the trash heap and change our tax system from an income tax to an embedded consumption tax like the Fair Tax.

I mean, what are we thinking? Do we believe the World will look at America and decide that we are to big to fail? Doubtful, they'll cheer while they watch our collapse. Time to wake up before we reach the point of no return. The we really do fail.