Tuesday, June 29, 2010

Imagine a total economic meltdown

Imagine you can't feed your children. Imagine you can't take your wife or husband to the doctor. Imagine you can't pay your house note or for your car. Imagine you've lost everything generations of your ancestors worked to create.

The Bush economy - maybe but not this time.

We're talking about British Petroleum's oil spill. We're talking about the effect it will have on folks on the Gulf Coast from Louisiana all the way through Florida.

Millions of people depend upon the waters of the Gulf for their livelihood. They are the fishermen, the tour guides, the hotel workers, the bar and restaurant owners - but that's just the first level. Then you have the auto dealers, REALTORS, bankers, grocery stores, etc who sell to these people.

Finally, you have the tax base. If these folks can't earn a living, they can't pay taxes. Guess where the burden will fall.

British Petroleum, in one moment of poor management, has hurt us worse than any enemy attack. No one even has a way to guesstimate the billions of dollars lost.

But we're also talking about respect. I'm an American and I'm offended that any company believes it has the right to foul my resources. Who are they to do this and how stupid are we to allow it? It's as if they came into our living room and...well...soiled the carpet.

A great description of the damage comes from one of my favorite columnists Carl Hiassen. See it here and see more on BP's economics here. See a video of the damage here.

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