Tuesday, May 19, 2009

Short Sighted Republicans?

Oh, Good Grief! I like getting involved in Politics as much as I like root canal, but once again a tiny article (coupled with the CORRECT illustration of the LighthouseLI Project) in today's Newsday did catch my eye.

It seems that four Democratic LI reps went to Washington, hat in hand, looking for money for infrastructure to ease our traffic problems here on the Island and the Nassau Hub. As reported by Elizabeth Moore, Republican Rep Peter King left the Hub off "his wish list" because "it would be presumptuous and premature."

Hey, Mr. King, this is a five year plan you went to discuss. Leaving off infrastructure improvements for that area is short sighted. Unless, of course, you expect to do NOTHING with that area at all in the next FIVE YEARS.

Does that mean that the additional project from that company from Virginia with ties to Kate Murray which is on the doorstep of the proposed Lighthouse project isn't going to need any additional roadwork? No? All those houses that the Town of Hempstead has to approve in the Mitchell Field development aren't going to cause any problems for the area that your representatives tell us is already over burdened? My my my... Very interesting.

But this brings me to a different thought. The representatives are in Washington asking the new administration for millions of dollars for the country's infrastructure. Um, President Obama, where is this money coming from?

It is no secret that I listen to Canadian radio most of the day at work. It is there where I find out the most interesting information regarding our own government. Something I heard yesterday frightened me more than the Swine Flu epidemic and more than Brian Burke wanting John Tavares.

"The American banking system is insolvent." My ears perked up. "Think of the banking system as piggy banks. They are all empty." I grew pale and began to sweat. But it made sense.

So I'd like to offer my own economic "fix" theory. Okay, here it goes.

Dear President Obama:

I would like to suggest that you get the very profitable Big Oil companies to bail out the auto and banking industry. As it seems that the Oil industry is the only ones making obscene profits, they are the ones that would suffer most from the collapse of the American auto industry. After all, it's those gas guzzling monsters that help them make money.

Now, the oil companies can bail out the banks too as they are the ones that are needed to give us jerky Americans the car loans for those gas inefficient cars they made.


Economy fixed.

Because if I have to feel violated every time I fill up at the pump in my little, relatively gas efficient Dodge, then it's time the Oil Industry gives back to the American people.

Okay, political rant over.

Penguins win game one of round 3, but they shouldn't get comfortable. The Cardiac Canes are not a team to be taken lightly. Not at all.


Travelchic59 said...

Oh puullllease - I don't believe that our banking system is insolvent for one minute. The market goes down, the market goes up. It's cyclical.

If you're listening to Canadian Sports talk radio all day long, they are not the most reliable for financial information. Try listening to Bloomberg Radio to get a real idea of what's going on.

Anonymous said...

"The American banking system is insolvent." My ears perked up. "Think of the banking system as piggy banks. They are all empty." I grew pale and began to sweat.

Please tell us you were kidding!!!!
It took a radio station up north to tell you that??

What do you think was backing all these trillions they are printing
Gold??? All its worth is the paper its printed on and oh yes a promise its actually worth something

I'm afraid to ask what else will make you turn pale and sweat?

Welcome to the real world

Nick said...

Dee - of course the banks are insolvent, the whole trick is how to deal with them without getting the zombie banks that led to Japan's lost decade in the 90's.

As for where is the money coming from - you should check my site - I think it was "Hidden Public Costs, Part III" from way back in February. I posted a study from Moody's Economy that showed infrastructure spending had a multiplier effect, in which every dollar spent generates $1.59 in economic activity. That's why they call it stimulative spending, and that's why people are willing to invest in roads, bridges, and trains, but NOT ARENAS.

Hope that made sense.