Living in the Bubble

We all live in a bubble and the recent plunge of the stock market is proof. At over 1400 the DOW was really over evaluated. It was in the same state as the housing market and the Dot.coms of the nineties. Do you remember the savings and loan bubble that burst during Reagan’s administration? They were the first to feel the pinch of a poorly thought out tax plan. We have had a tax plan that has slowly choked the middle class for the benefit of the upper class.

We also live in a bubble of misinformation and diversion. Often our politicians give us diversions so that we don’t notice how they are fixing things up for the over-class. Recently the politicians were grinding on about earmarks. To hear them talk you would think that if we got rid of these earmarks we would solve the fiscal problem that our federal government faces. Once you add up all the earmarks in the recent budget you find that it was only 1% of the total budget. So instead of figuring out were the real waste was in the budget, we spent all that time talking about the minutia of earmarks.

Our politicians do this with other responsibilities they have. They yell about welfare fraud from people who take hundreds out of our economy, but ignore the Enron’s who take Billions, but every once in a while they get caught and we can see what they’re really doing. Today AIG gave they’re top management bonuses while they were taking billions from our pockets. It was such an egregious move that there was no cover up for their greed. So, we heard about it and everybody has shown the proper amount of anger. You hear all the talking heads telling you about how terrible AIG is. Soon you can expect some trivial incident to be talked about to divert our attention, but you will not see our tax system fixed.