This has been a perfect weekend ... if perfectly lousy means anything. Family problems to go along with the underhanded crap going on in Washington DC is enough to make anyone holler "uncle"! The icing on the cake was another blow-out by the Gators over the Vols, although that wasn't unexpected. Looks like we are headed for another losing season, but have enough talent to be SEC champions, at least. It is what happens when mediocre coaches are rewarded for being such.
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Expert advisers told the Bush-baby that the financial system needs a huge taxpayer bailout. Some of these experts were the same ones whom told it to invade Iraq because of weapons of mass destruction! Aren't you glad you voted for the Republican ticket in 2004? The only thing being bailed out is big business and fat-cat corporate bosses. This will be a stop-gap "fix", and does little to address the problem.
I say let natural forces in the marketplace do their thing. Throwing good (and borrowed) money after bad isn't the way to go. All it will accomplish is keeping plenty of money available for more bad loans to the same corporations and individuals (like me) whom could give a damn less if it is paid back.
Congress of course will back the give-away in some form or another. They have to show the voters that they are on the job and protecting their best interests.
By proposing the bailout, Bush is admitting that his economic agenda of the past eight years has been a total mistake, and that the deregulating ideas of Reaganomics is a miserable failure. Even George the first called Reaganomics "voo-doo economics".
The recent economic stimulus refund has played some part in this, I'm sure. A lot of people did the same thing Carolyn and I did with our $600; paid off a credit card debt. If that happened enough, a lot of high interest charges and late fees failed to materialize for these "troubled" lenders. Screw 'em!
3 comments:
Yep, let the market fix itself. It got us into this mess now let them fix it without using my tax dollars.
The power given to the Treasury Secretary is insane. He should not have the power this package gives him. You are right in saying they are not addressing the problem.
There is no easy way out of this and like usual the little man will get stuck paying the bill.
And I also used my stimulus money to pay bills.
We are plain on the creek of no mercy. Bush will get his bailout money one way or another.
I think you are right. How odd it is that I agree with republicans more than the dems on this one.
The would is upside down.
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