Why do we care about keeping the economy? We care for the sake of our happiness and health. That is why we go to work. We work to make our lives better. The economy makes that easier for us by increasing the profit in our work.
The financial industry is supposed to affect the economy the way a farmer is supposed to nurture the land. They are supposed to invest in companies that effectively direct our skills to where they have the most value. The things made by us in companies are then supposed to cost us less than the same things made by just ourselves. That is how the economy increases the profit in our work.
And that is why the government’s bailout of the financial industry is revolting. These financiers have taken the deposits from our life savings and squandered it on a pyramid scheme of their design. They have artificially inflated the financial markets by investing in each others financial assets. That has generated for them artificial deposits that have been used to generate even more deposits the same way. The excess money in their financial bubble has even inflated bubbles in other markets such as real estate. Regulations that would have helped prevent this scheme have been changed to accommodate it. This scheme has continued to grow until real deposits become too small to absorb even the slightest economic downturn. That is why the system is imploding. Now they need our taxes to survive.
It is astonishing how the government can find trillions of dollars to save a few over inflated businesses while everyone else is left out. These businesses are not supposed to be in our economy! Businesses should not be allowed to become too large to fail. A business that large destroys a free market by dominating it. The free market system offers the best business environment for us to get the most value for our work. A market that is not free only serves the special interests that dominate it. Our government, then, is favoring market dominating special interests with the bailout.
If our government is compelled to keep these powerful companies in our economy then it must provide them with a financial safety net. Businesses that may be too large to fail should pay for that government entitlement program. This has been the arrangement for people who work for wages. That is why social security tax rates in the United States quickly become much less for those who become wealthier. Wage earners should not be expected to pay for business welfare too.
The economy is supposed to increase the profit of our work. But financiers have willfully guided our economy to participate in a great pyramid scheme. The real economy has been neglected. Now our government is using the tax base to bail out the same businesses that have been pilfering our economy. With that kind of management more people are feeling disenfranchised. Fewer people are caring about keeping this economy.