Monday, March 17, 2008

MORAL HAZARD

DEFINITION: Moral hazard arises because an individual or institution does not bear the full consequences of its actions, and acts less carefully than it otherwise would, leaving another party to bear some responsibility for the consequences of those actions.

GET USED TO IT.
MORAL HAZARD IS AN ECONOMIC TERM WE’LL BE HEARING MORE FREQUENTLY AS WE CONTINUE OUR SLIDE DOWN A FRICTIONLESS SLOPE.

IT ALL STARTED WHEN WE LOST THE ABILITY TO SAY ‘NO’ TO OURSELVES.
NO TO SUV’s. NO TO Mc MANSIONS. NO TO A HOBBY-HORSE WAR.
NO TO THE HOME-EQUITY-AS - PIGGY- BANK- BINGEING.
NO TO OIL.
NO TO FLIPPING REAL ESTATE AS IF IT WERE AN OMELET.
NO TO CORPORATE SLIGHT-OF-UNDERHAND.

WE BOUGHT INTO A 'MORE-IS-MORE' FUND WITHOUT HEDGING OUR BETS.
OUR INSATIABLE CITIZENS HAVE ABANDONED THE CONCEPT OF SELF-DENIAL.
LAY-AWAY AND RAINY-DAY -THINKING ARE AS QUAINT AS A BLACK DIAL TELEPHONE.
WE WANTED WHAT WE WANTED AND WE WANTED IT NOW!
WHAT COULD GO WRONG! IT WAS A WIN-NO LOSE EQUATION.

IF WE MADE A BAD CHOICE WE'D GET BAILED OUT. NO PROBLEMO.
ACTUALLY…PROBLEMO.
WE’RE FAST RUNNING OUT OF BAILERS.

11 comments:

ben's friend said...

We haven't run out of bailers yet! The Chinese are still bailing. How else could we afford to spend 330 million every day on this war, and still talk about a strong economy and tax rebate checks? When the Chinese finally decide to call in our debts, that is when the excrement will hit the rotating blades.

Anonymous said...

Fugetabout the Chinese...........what will happen when the Federal reserve calls in the debt? They are about as FEDERAL as Federal Express,(totally different agenda, guys!) and they will. It is all about GREED, and MONEY, and POWER, and we all bought into it........
We are slaves...........they own us, and shame on us! Wake up America!

quicksand said...

BEN'S
OUR GOVERNMENT SERVES AS OUR ROLE-MODEL.
JUST AS IT USES IT'S PLATINUM CREDIT CARD TO PAY FOR THE GLOBAL ADVENTURE IT CAN'T AFFORD...WE RANK AND FILERS OWE AN AVERAGE $10,000 DEBT TO PLASTIC.
THE EXCREMENT WILL BE DOMESTIC...THE BLADES WILL BE MADE IN CHINA.

quicksand said...

ANON,
I LIKE THAT 'FEDERAL EXPRESS.'

WE MAY BE SLAVES BUT WE HAVE
BLING CHAINS!

Anonymous said...

Quicksand,

The government doesn't serve as my role model... It is bloated, useless, and greedy, just like the American public.

Anonymous said...

Dear Quicksand..........
Your name says it all. You are sinking in an ocean of slavery to the weakened american buck. I hope whoever grabs your neck by your bling chain as you go under,
can hold on for the count!

quicksand said...

ANON
FOLKS FIND COMFORT IN SAYING," IT'S JUST PART OF THE BUSINESS CYCLE."
THIS TIME, IT MAY NOT BE THE BUSINESS CYCLE, BUT RATHER, THE RESULT OF YEARS OF PROFLIGATE BEHAVIOR.
WE WANT TO MICRO-WAVE OUR DESIRES.
WE'RE FAT, SPOILED, AND USE VICTIMHOOD AS OUR DEFAULT POSITION.

Purple Haze said...

Dear Quicksand,

When the levee of our bail outings breaks it's gonna be worse than Katrina. But when you have an incompetent, unethical and plain dumb ass smirky leader who looks at the world through Bush colored glasses, it's time to remember those air raid drills of the 50's and 60's: put your head between your knees and kiss your ass good-bye.

How can this a-hole of a president say that the American economy is strong with a smirky face? How can this privileged born with silver spoon in his mouth S.O.B. NOT know that gas is going up to a dollar a gallon? He has the opposite of the Midas touch, everthing he touches turns to crap!

WE didn't vote for this "pendejo" and his robber baron cronies but we will bear the brunt of his stupidity with the rest of the middle class.

God help whoever becomes the next president, because (s)he will be blamed for all of the s**t that's gonna come down.

Purple Haze said...

Dear Quicksand,

Oopps-make that "gas is going up to four dollars a gallon". My typo left out the "4" and the "s." I guess you can say it fell into the "s" hole.

Seriously, has this been any way to run a country over the past seven years? This Alfred E Neuman president has run it into the ground just like he ran the baseball team he owned and the oil company he managed into the ground. You've really got to be a total freakin' doofus NOT to make money on an oil company.

Think Iraq. In 2002 gas here was $1.30. Now it's $3.50 per gallon and going up to four.

Mission accomplished--Attaboy Georgie Boy!?!?

quicksand said...

HAZE
THE DECIDER HAS MADE MANY VERY BAD DECISIONS.
THE PROBLEM'S WE FACE GO BEYOND THE BUSH HORRORS.

Anonymous said...

In the scheme of things, this inept, confused excuse for a leader president, is only a puppet for a higher agenda. He has no clue about gas prices, weapons of any kind of destruction, or the state of the economy. The horrifying part of all of this is that whoever follows in his wretched footsteps, will fall right into the "Puppetmasters" control,, and so it goes on and on and on.
We are merely inconvenient bystanders.