Dear Friend and Reader,
In the midst of the financial tumble, the majority of us are watching the news and doing our best to get a grasp on things and understand how we’re affected by the loss of major banks and financial institutions, the failure of the initial $700 billion bailout plan and the biggest one-day drop in Dow history.
Our immediate surroundings lead us to personal questions: will I lose my job; will I lose my home? Then it spreads out to the world around us: will this affect how people vote in the election; and if all this taxpayer money is going towards the bailout, then what will we expect to lose in the re-structuring of funds?
While it’s too early to say how the vice presidential debates will go, let alone the election, there is one major project that will start simmering on the back burner: the environment.
While McCain isn’t paying much attention to alternative energy anyway, focusing instead on our dependence on foreign oil (how many times have you heard those four words strung together?), Reuters reports that Barack Obama: “previously promised to invest $150 billion over the next decade to develop affordable, renewable energy sources and clean coal, touting these as a long-term energy solution rather than new, off-shore oil drilling.”
This plan will now be scaled back to accommodate the squeakiest wheel — crashing financial institutions.
While this is disconcerting news, I’m not sure that it’s time to panic just yet. There’s going to be a re-vote on the bailout today, and it includes new provisions, according to The New York Times. “Top lawmakers said the Senate proposal, worked out after a day of behind the scenes maneuvering, would include tax breaks for businesses and alternative energy and higher government insurance for bank deposits.”
At this point, the best we can do is wait and see, and try to stay positive. There are some people in the Senate and House of Representatives that are committed to we average citizens and the fate of the planet: not just those of the biggest banks, the largest institutions.
Yours & truly,
As to those “personal questions”… quite a few Americans have ALREADY lost their homes. Because they lost their jobs. You know, those jobs that the Cancer Capitalists sent to Mexico and China.
Bring on the chemotherapy, I say.
” I’ll say this,…. If you CAN help some cat, some way, DO IT! If you’re fucked, you’ve got my best vibes. When/If my shit comes together, I’ve got your back….. Even now, WHATEVER I CAN! ”
Dear Jeremiah,
Thanks for the gift of inspiration. Your generosity and courage have deeply moved my heart.
With deep respect and alignment,
Linda
Honestly I’m not affected one bit by all the wall street b.s….. In theory. I’m always one step from the curb, welcome to California’s youth, the hippy punks who never grew up, Fuck the system. These jackasses are in it for their OWN security, not yours, not mine. I was hopin’ Obama would keep up the initiative of alt. energy, I might actually become a career man then but…… there’s always the streets. If the bro actually works toward (sets up) alt. energy systems, he’s got a LOT of cats that will work their asses off for him/us/U.S..
The U.S. still has a LOT of soul. We’re ready. If the politicos don’t give it to us, we will do it ourselves….. It’s just a nasty process, with gnarley repercussions.
I’ll say this,…. If you CAN help some cat, some way, DO IT! If you’re fucked, you’ve got my best vibes. When/If my shit comes together, I’ve got your back….. Even now, WHATEVER I CAN!
Food my friends. Start workin’ your soils. (Besides, Plants are righteous!)
Love you all,
The freakin’ “ENSOULED”
(I’ts time we connect)
Jeremiah
Hey Rachel,
I don’t agree with your 1st link from the New York Times atall – obviously it’s bound to be a US centric paper, but from a European perspective, this credit meltdown started occuring some time ago, one of the biggest financial institutions in the UK was bailed out by the government in February of this year, after the institution( Northern Rock) went into near collapse on 9th sep 2007 that’s over a year ago and was partly on reaction to the sib prime problem in the US and an out of control housing price boom in Britain – this has been going on for a loooooooong time……
This is the UK end…
As far as i can tell the first ‘Bank’ to be nationalised was Northern Rock on or about 26 Feb 2008, after near collapse on 9 Sep the previous year. This was then followed by the forced ( and breaking all financial fair trade rules) merger of LloydsTSB with HBOS on 18 Sep 2008 and now the nationalisation of Bradford and Bingly 29 Sep. This now means a huge portion of the mortgage market lies solely with Lloyds/TSB/HBOS and another huge chunk nationalised