?????? by Janus Kane

Does anyone out there know what is going on?



Within a five minute period, I read two articles. The first was a cautionary missive, warning us to all learn how to prepare our own emergency food supply in preparation of the day when the store shelves would be empty. The second was the latest bailout news. Apparently, the powers that be have decided that six major life insurance companies deserve bailout money. It left me wondering how even the possibility of two such occurrences can co-exist in one country, state, city or even on the same block.



Is there a conceivable future where taxpayers will be paying BILLIONS to maintain greedy businesses while they are unable to afford groceries at the local bodega? I suppose we don't have to envision it because the reality is here. As companies like the Hartford and Prudential, who have built their businesses on a foundation of actuarial expertise, dig into the taxpaying public's pocket, thousands of people join the unemployment lines every day and those that can hold onto their jobs are scraping together enough to afford a trip to the grocery store.



A housing market that is going belly up, car dealerships closing left and right and prices for consumerables that are leaping by the day, don't bode well for our economy. And yet, we continue to hand out money as if we had a printing press in the basement of the White House.



Obama has made an impressive show over his short term in office and we all realize that he inherited this problem but, at some point, government officials will have to understand that throwing money at the problem is not helping. If we could be more confident that these decision makers were being more judicious about where this money is going and what strings were attached to its use...



The more we see, the more clear it becomes that there are few, if any, penalties for abuse of this system. Big corporations, cunning but not stupid, have caught the scent of money and are coming running, faster than hogs to the slop bucket. Just as with the banking industry, I fear that this money will disappear and the problem will remain, unchanged. Does anyone out there doubt that, at some point in the future, these big insurers will stop paying claims while crying poverty all the way to the bank?



Something is broken within our financial system. Capitalism is failing. Until we find out what the root of the problem is and cure it, we will continue to dig ourselves into an ever-deepening hole.