Outrage RIP

Mish had a great post yesterday in which he asks, "Where the hell is the outrage"

http://globaleconomicanalysis.blogspot.com/2009/10/where-hell-is-outrage.html

Where's The Outrage?

I don't know about you, but I am outraged.

I am outraged and not just about Goldman Sachs, but about a process that allows, even encourages political pandering, by time and time again rewarding leveraged riverboat gamblers and failed institutions and at taxpayer expense.

I am outraged that real people are suffering massively while the influence peddlers have stolen the country for their own personal benefit.

I am outraged at a political system that is totally unresponsive to the American people.

I am outraged by campaign contribution and lobbying processes that allows corporations to buy votes with donations.

I am outraged how legislators ignored the wishes of the people who clearly did not want these bailouts in the first place.

I am outraged that very little of this is in mainstream media. Why is this stuff not on the frontpage of every newspaper in the country or at least in the editorial pages?

I am outraged that the average US citizen is not aware of any of this, instead depending on CNBC, or "The View" for their interpretation of the world.

I am outraged how special interest groups have exercised their power to monopolize the economy for the benefit of themselves, US citizens be damned.

I am outraged that all these bailout programs are doing nothing to alleviate the massive consumer debt problems. Every program, virtually every program was designed to bailout lending institutions, not consumers.

I am outraged at fees charged by banks receiving bailouts.

I am outraged over government pension plans and government pay scales massively out of line with the private sector.

I am outraged that Congress and this administration thinks the solution to massive budget deficits are still higher budget deficits in excess of a trillion dollars.

I am outraged about indictments. Paulson Admitted Coercion to force a shotgun wedding between Bank of America and Merrill Lynch yet no indictments were handed out. Let the Criminal Indictments Begin: Paulson, Bernanke, Lewis.

I am outraged that US citizens are not concerned enough and not educated enough to demand change.

I am outraged that the two party system has failed. Neither party has delivered meaningful change on budgets, on taxes, on social security, on deficit spending, on the size of government, on military spending, or fighting needless wars.

I am outraged at a Fed that purports to be "inflation fighters" when the only source of inflation in the word are central bankers, and their fractional reserve lending policies.

I am outraged that Greenspan and Bernanke could not see a housing bubble that 1000 bloggers could see.

I am outraged at the selective memory of Bernanke when speaking to Congress about these problems.

I am outraged that Bernanke's one sided response to asset bubbles, letting them grow without end, then bailing out the financial institutions that cause them.

I am outraged the Fed exists at all. It is a useless organization that cannot see bubbles, that panders to banks, that supports inflationary policies that are tantamount to theft by fraud.

I am outraged that the Obama Administration promised changed and did not deliver. "Yes We Can" was a lie. The reality is "It's Business As Usual, Only Worse, With Higher Deficits".

I am outraged there is not enough outrage over this.

Where the hell is the outrage?

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

I can tell you where the outrage is. It is gone. It died an ignoble death when society removed the relationship between cause and effect in regards to personal choices. For political reasons it became more expedient to blame the ant for preparing for winter than to scold the grasshopper for wasting his time. So ants stopped trying to save (what's the point anyways when Greenspan knocked the savings rate down to less than 1%) and tried to be grasshoppers getting rich flipping houses for other grasshoppers using the Ant's savings.

Why be outraged when the gov't insures all of my "money" up to $250K. So what if my bank goes under, it is insured. Any it should be. Since we bailed the banks out, we should get bailed out. But if I get outraged, then I call into question my own bailout. So be quiet, stick my grubby paws out and get mine.

I know I look around and with a few exceptions, my friends, my family members, and what I see on TV, in the newspapers, etc tells me that people either don't understand what has happened, or worse don't care. They think that the crash of 2008 was a normal business cycle crash and that everything will get back to normal (heck it already is) in no time. So why be outraged. The govt can bail out everyone and everything. There is nothing that the govt can't do, so there is nothing to be outraged about.

And that is the true outrage IMO.