Why Not Bail Me Out Too?

And now that it has REALLY hit the fan, these same incompetents are yelling bailout.

Can you believe how our governments are throwing our money at the Big Corporations as if they actually deserve it?

Or how our governments are trying to bailout mortgage holders because mortgages were given to people who shouldn’t have had them in the first place?

During the last federal election (Canadian), I ran where I live in South-Eastern Ontario as an Independent Candidate in the Riding of Stormont, Dundas and South Glengarry and got my ass seriously kicked for my troubles.

During the 6 all candidate debates we had, with the exception of the French debate, which I was not invited to participate in because the organizers were language bigots, I spoke about how we Canadians will be facing a financial hurricane coming from the South.

With the exception of the Liberal candidate who nodded his agreement to my analysis that we are in for some horrible financial times, nobody wanted to speak about it. Not even him.

I spoke at each debate about my being the ONLY candidate with business experience.

Not one of the other candidates ever spent a sleepless night worrying about meeting a payroll, or how to pay the deductions at source, or how to makeup for the taxes that had already been spent just to keep the company going.

Not one of them could ever understand the ebb and flow of business. What it means to price yourself competitively, so you can make a profit and still compete with the competition. Or go under trying.

None of them had ever gone before a bank manager with cap in hand praying that he/she wouldn’t call their business loan or line of credit because of a lack of performance, a slow market, or some late interest payments.

Not one of them was ever turned down for a mortgage because he or she was a small business owner whose income by bank standards didn’t fit their mold. Yet, at the same time, and by the same bank manager, his or her employees were able to get loans and mortgages based on the salary he or she paid them.

I can write far more about what it means to be a business owner, but I’m quite certain you now have an idea if you didn’t have one before.

I write all of this because my Riding of Stormont, Dundas and South Glengarry is neither exceptional nor anecdotal, unfortunately, my Riding is reflective of all the Ridings and the vast majority of people who run for Parties in all elections.

Very few of them have the business experience of someone who runs a Convenience Store; yet, every last one of them will be making decisions that will affect EVERY business in Canada and the USA.

We are in the mess we are in today BECAUSE of government and their gross incompetence, total lack of business knowledge, lust for power, and associations with massive banks and businesses whose favor they are forever buying with our tax dollars.

I along with others have been writing for years about the impending financial meltdown of our economy. And I’m not an economist. I’m JUST a small business owner who understands the basic and unconditional principle of business.

Make a $1.00 – spend $1.01 and you’re in the red. It’s as simple as that.

In the case of the banks, the brokerages and the insurance companies, especially in the USA, none of them followed this simple principle, and not one government agency demanded that they did.

In essence, what happened was the result of a total lack of control and oversight by the people we trust to govern our economy. But why should we be surprised at this when the people we elect have no business experience whatsoever?

During my campaign, I was the ONLY one who focused on the financial hurricane coming from the South, not because the others didn’t want to. It was because they had no idea what was heading in our direction. So what could they focus on?

And now that it has REALLY hit the fan, these same incompetents are yelling bailout. Let’s bailout the greedy banks who loaned money to people they should not have.

Let’s bailout the fast and loose brokerages, investment houses and insurers who ‘invented’ and ‘invested’ in crap financial ‘products’ that were nothing more than complicated financial scams that can best be described as a humongous Ponzi Game.

Here’s some advice for all the incompetent members of government.

LET’S NOT! Let’s not bail these bastards out. Let them either sink or swim on their own, just like I and every other independent business would have to if we so mismanaged our companies and investments.

If we bailout the big three North American carmakers, how will that all of a sudden change anything? Would their cars be more affordable, more reliable and more fuel-efficient?

Would their labor be more realistically priced and reliable?

Why is it that the European and Asian carmakers can produce cars in North America that people want to buy at reasonable prices where the carmakers actually turn a profit? WHY DON’T THEY NEED A BAILOUT?

The ONLY thing our incompetent governments can do by bailing out these loser-companies is to make a bad situation worse. That’s about the only thing governments seem to be VERY good at. Making bad situations worse.

You can hear a version (approximately 9 minutes) of this editorial by clicking on the Radio Button at the top right hand side of this page.

Please keep spreading the word.

Best regards . . . Howard Galganov

1 Comment

  • I, too, hope the Republicans take over the Senate next month. But, never underestimate their power to disappoint. The RNC is all about selecting establishment politicians to the point of working hard to defeat more conservative candidates such as those supported by the Tea Party. My senator on the ballot is Jeff Sessions. He’s unopposed this time because most of us would vote for him anyway. But, put an establishment guy on there, like the other one – Shelby, and I will just not vote.

    Nathan C. Holder, Huntsville, AL

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