So I watched CNN all day yesterday waiting for the vote on the bailout bill, but I noticed that even though I don’t have any money to really lose (just the hope that they may not notice how much debt I have) I still felt stressed out. I also realized that when rich people lose money, it is a national crisis. But poor folk have trouble making ends meet every single day. Where is our news coverage?
The thing with money stress, for most of us, it is always there. So why this panic and media frenzy? Because the Dow Jones dropped? Or because we need to sensationalize everything and create fake scenarios to see how our to be presidents will react? Now, I am not saying that the financial crisis isn’t real. Giving out money that doesn’t exist will lead to problems. But this has problem didn’t happen over night. As Naomi Klein would suggest,
[R]ight-wing governments use the shock generated by disasters or other crises to push through unpopular free-market policies when the population isn’t in a position to oppose such programs.
via Chronicle Herald.
So instead of taking a jab at some shoddy economic analysis (which it seems like a lot of people are doing), I thought I would give you all a chance to share your thoughts on the economic crisis. I realized after watching the news all day I started to feel really panicked and started revisiting all my bills and stressing out about money. I also realized the spending on the war in Iraq is almost as much as the amount that is needed for the bailout.
Talk to me.
UPDATE: Listen to Naomi Klein explain the “shock doctrine.”