Wednesday, September 09, 2009

The Second Great Depression - Government Bailout

Just like the stock market crash of 1929 ushered in the Great Depression, so has the real estate crash of the Fall of 2008 ushered in the Great Depression II.

I was thinking that in Great Depression I, the US Government did NOT bailout any banks or other businesses. Instead, the US Government created work projects to put people back to work and into a spending mood.

This time, in Great Depression II, the government IS bailing out banks and other businesses. The US Government is giving banks and businesses money, and propping them up. BUT, the US Government is NOT doing anything for people. There are no programs to put people back to work.

Did the US Government change from 1929 to 2009? Did it change from a democracy for the people into a government of big businesses? Are our elected officials merely "corporatists"?

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