How did we reach this point?

At Hartford a chief strategist, Krosby said, "The Fed is responding to a panic. They are reacting to a market. We should have had this cut weeks ago."
What cuts you asked? Well the key interest rate which the Feds have decided to slash at three-quarters of a percentage point. And it's not as if they came to this decision likely, after all there is a 9% drop in the U.S. stock market year-to-date. The worst start ever for U.S. equities. Not to mention the global market sell off.
But what does all this have to do with me. All this talk of tightening ones credit. I have been living on the edge since the big business lobbyists and the Bush Republican administration started with their 2002 Government Financial Incentives for Big Business to close jobs here in the U.S. and Out Source jobs to overseas. But wait, you say, jobs have been moving out of our country for a long time. We had a high number of jobs that left the U.S. in the 1970s.
I am glad you brought that up. Let's take a trip to 1972-1973 around the time that Nixon took his famous trip to Red Communist China and began the China Trade Agreement. With the help of his Republican party they changed our Foreign Trade agreement, thus changing the rules of engagement in foreign trade. With less productivity which began to happen at that time in the United States, and a higher increase of imports coming in no one noticed that many American jobs were disappearing and heading overseas along with the productivity of goods. There were scaled back production in some plants, while new manufacturing plants were being build overseas. As soon as the new factory plants were in full production, The companies began slowly closing there plants here in the States. Yet no one was making the connection. We had six years of Nixon, plus 2 years of Ford, his Vice President, who took over as president after Nixon was impeached. There was a campaign for encouraging the Young to become computer specialists and engineers. But it wasn't until the second year of Carter's presidency that we started to see real problems in the job market. And it wasn't until we had triple digit inflation when everyone started getting angry and blamed Carter. And we suffered massive suicides, loss of jobs, loss of homes, and an increase of whole families being homeless. So with emotional votes Ronald Regan wins. At first everyone believes he cared for the homeless. But did he? If people were being arrested for homelessness, and their children been taken away because they were homeless, how can anyone say 'He cared?' Everyone was was too busy listening to his talk of getting more Americans to own their own businesses. But think about this If not everyone could be a doctor or a lawyer or an artist, how can everyone be and qualify to be a business owner? Now we are nearing the end of his term, and there is a glitch that occurs in the economy since Regan's Policies only really benefited the big business. Yet everyone is still on the high side even though by 1986 a lot of small businesses had fail under the Regan's strategy. Since the effects on the economy is not as high as it was in 1980, people and the media ignore it. The 8 yr feel good policy of Regan administration is still pushing, flowing into the Bush Sr. administration. But by his first year the economy swings downward, so much so, that by the time of the Gulf War we cannot afford it and we have to borrow money from the Japanese government. Now the media is talking recession, and now and increase of job loss and bad economy hits. And after 12 yrs of Republican administration, people vote for a democrat, Clinton, to fix the economy. And he did. For 8 years it was good. But after Clinton's denial of intimacy with a staff intern, people started with an emotional vote instead of using their brains again. And then there is Bush Jr. with his 2002 Government Financial Incentives for big business to out source American High Tech and other jobs over seas. Bush speaks on Nation TV encouraging Americans to take service jobs, since the High Tech jobs are a thing of the past in America. He made this speech around 2002 and 2003. At first I thought he was kidding. But My husband lost his Secure High Tech job to outsourcing in 2002. That was the beginning of the fall for people's lives. Engineers, programmers, computer specialists all with degrees were loosing their jobs, their homes, living in cars. The taking jobs that were temporary computer jobs that have gradually decreased and are so few and far in-between. Or many left the field and took jobs as janitors, taxi drivers, retail jobs, even jobs at McDonalds. But some were able to get into real estate, or a small business at home with financial help from family of course. Top CEOs spoke on what a wonderful thing outsourcing was for our Economy on TV. In fact, on TV one top CEO boldly smiling stated very proudly on the national news that "AMERICANS NO LONGER HAD THE RIGHT TO WORK." Yet there was no outrage. Because people are so easily fooled by Bush and Republican party, just as they had been fooled by Republicans in the past. Now at the ending of Bush 2 terms and failed economic policies that favored again the big business just like under Nixon and Regan, we have a recession, for the third time since the first one in the 1970s. And again no one is making any connection between Republican Policies that only benefit Big Business with the LOSS OF PRODUCTION, LOSS OF JOBS, LOSS OF WAGES, LOSS OF AMERICAN DREAM.