I would like to mention that I'm really open to any view, be it left, right or center, providing that the facts, logic, and intuitive awareness is reasonably in place. My opinions here, about the present financial crisis, reflect only a small proportion of the overall problem.
About every 10 years we enter a down cycle economically, and you can see this happen around the turn of every decade. The present downturn however, is much more extreme, and the rather long lasting Saturn/Uranus opposition will create a very erratic economic situation over the next few years. One moment we experience some stability and the next all hell breaks loose. Thus, the Saturn/Uranus opposition is simply attempting to give us a wild ride correction, but our actions will dictate the long-term effect.
There are a number of factors coming together in recent years aside from the financial problems. Things like the oil crisis, an over burdened activity with wars in the middle east, the shift of manufacturing overseas without a productive investment in our workforce, and a crisis in education where a lot of young people are more interested in I-Pods and sneakers than learning anything.
The present financial crisis is not just the result of one party as the Democrats or Republicans have controlled the White House and Congress. The credit mess has been brewing for over 15 years, with Banks and Financial institutions being too liberal with giving credit. Real Estate agents have been too keen to make a sale to naive homebuyers--some of whom bought property way above their means. Home prices have continually risen even during the last recession around 2000 creating an extreme bubble.
The Democrats in Washington coerced lending institutions to give loans to low income people, and the two main democrats responsible for finance committees in Washington, Chris Dodd and Barney Franks (both Democrats), were apparently given millions of dollars by banks and Finance institutions during their elections. Government is far more corrupt than most corporations, and I for one won't vote for a Democrat or Republican in the next election (most likely is Libertarian).
Just watching a snippet of the congressional hearings where the Fed Chairman and Treasury Secretary were being grilled by congress, it was blatantly obvious that house members knew nothing about finance and could not even understand what they were being told.
It seems that the government does not have a choice but to bail out these financial institutions. Yet the way it has been done by Congress is absolutely disgusting and unless there is some serious asset control in the manner in which this bailout is used, I fear for the stability of the economy. I won't go into the hundreds of pages of pork in this bailout bill that morally should not have been included (only about $130 billion in so-called sweeteners).
To make a point, we should go after the CEO's, Finance executives, politicians, realtors and traders who are responsible for this mess and prosecute them. Trouble is, there might not be anyone left to run these institutions!
In spite of all these unfortunate events, we have to remain optimistic to work our way out of the present crisis.