Saturday, February 21, 2009
When I moved back to Massachusetts in 2003, I remember being blown away at the cost of housing and perplexed at how a house that was worth $150,000 in 2000, was now worth $300,000, only three years later. I'm no Greenspan or Ben Bernanke, but I know the basics of economics and something didn't jive. How can the cost of housing double, while wages stay the same? Somehow (post 9-11) the price of housing skyrocketed and it didn't seem to raise any eyebrows.
The economy is center stage with bailouts, bankruptcies, corporate and political crooks running a muck in America. I've been intrigued with this whole mess, since it's inception; the banking crisis last year. I've had some good dialogue about the situation with people from all different walks of life and financial standings.
Regarding the bailout: I'm struggling to find work and the economy has hurt me. In jest, I say, where's my piece of the bailout? In all honesty, why and how does the government decide who gets bailed out?
I was reading up about what corporations are doing to keep afloat and I came upon a company called Koch Industries, a conglomerate based in Wichita, Kansas. I had never heard of Koch Industries, but I was amazed to learn that Koch is the 2nd largest private company in America (behind Cargill) with $100 billion in revenue. Koch is headed up by some of the smartest executives in the world, and reading CEO Charles Koch's perspective on the government intervention was very insightful: learning from past mistakes so we don't relive history.