"100% against it [the bailout]. It will be financed by money that we don’t have- so either we’ll print more (thus devaluing the dollar even further and giving each and every one of us an increased tax through continuing inflation) or we’ll just borrow from China or Japan like we’ve been doing to finance war, etc. Not exactly National Security to be indebted to foreign creditors. Furthermore, it’s loaded with pork- special interest money. Have a look:
Total number of bailouts gets us closer to $1.8 trillion in commitments, added to the 53 trillion dollars (you read that correctly) in commitments when you factor in social security, the federal debt and medicare. You don’t want to know how much that equals per taxpayer.
As an economic matter, it is no fix at all, and will likely make things worse (which is what happens when the gov steps outside its rightful role). A free market system is supposed to allow for corrections and downturns as a way to punish (not reward) in this case- the Wall Street Casino Capitalism. We aren’t doing anything but propping up bad debt that needs to be cleansed from the market place. You have to ask yourself- of the economists “for” the bailout, which are intending to say “good economic policy” or rather just looking out for their investments in Wall Street? No one knows. We also don’t know a lot about the process of these bailouts because so much of it is being done without our understanding. Everyone should be deeply concerned that legislation supported by only 25% of the American people was just voted and signed into law.
The American people have been had."Hmmmm, I'm thinkin "Neither a borrower nor a lender be." Simple yet profound don't you think?