2008

By 2008 the economy was in such trouble it needed radical outside help from government. Investment bubbles formed around speculating on high-risk quick returns investments. These same investment bubbles were ready to burst. Large investors speculated on quick returns with no long range plans to increase productivity in the over all economy or creating more jobs. Instead of planning for investment that would put Americans back to work there was massive buying and selling of shares in the stock market. There was transfer of large quantities liquid assets with no plans to increase productivity in manufacturing, job creation, and without any loyalty to individual companies or their products. Banks were openly barrowing from other financial institutions.  This fueled uncontrolled speculation. Because there was speculation on unsecured investments government intervention was a part of the long-range plan. The only ethical concern was quick returns on investments.  With government waiting in the wings there was risk reduction on these investments. Investments with no secure future became the norm, as failure became impossible. Through increasing speculation in which we created an unreal world; a world in which wealth has little to do with hard work, craftsmanship, public service, or entrepreneurial visions. Organized crime became legal and gambling became not gambling because of bailouts. Remember 2008. Now we are trying to pay the bill on this criminal activity through budget cuts in the public sector, which had nothing to do with our current crisis.