It’s still not over?
October 1st, 2008I actually had some cool articles written about losing fifteen pounds and other personal matters, but unfortunately, Congress is wasting my time and I’ll have to do a third article on this because it’s not going away.
Don’t fall for George W Bush’s “No Banker Left Behind Act.” That’s what it is. Is there any talk about helping people pay their mortgages? Or what about the people whose jobs have been sent overseas? Instead, we’re talking about spending $700 billion on bailing out poorly run corporations so the CEOs can get their $50 million golden parachutes. Do you see anything wrong with this picture?
Congress is now considering allowing the Executive Branch the authority to take our money and give it to foreign banks and corporations. Beware of this scam. It’s bad news, and is no way a good use of your tax money.
The other thing, your taxes will be raised if this passes. Do you want to pay more tax than you already do?
You’re not getting anything in return. So the stock market drops. I’ve already lost a lot, but I’m riding it out. Like I said before, have money in cash handy and when it bottoms out, buy.
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Bailout or no bailout, we may have a recession coming up. The bailout isn’t fixing the root of the problem, just putting a band aid on it.
That said, cut your spending. Pay off your debts. Build your savings. Continue funding your retirement accounts. And above all, make sure you spend less than you make. If you have to hire an accountant to figure why you’re not coming out ahead, do so.
One more thing, there will be even more layoffs. Do everything you can to make your job not expendable.
It may be ugly. Hard to say. Nobody knows the future. Anyone who says they do, just back away slowly.
But the numbers look bad. High inflation. High unemployment. We may be up for rough times ahead and I’d rather go to your blogs and find that you’re all surviving.
gee! i hope the next president (whoever that maybe) to take you out of this mess.
it’s astonishing to me that things have gotten this bad this fast. and it infuriates me that we are expected to bailout some rich guy so he can still afford multiple homes when many people can’t afford their only one.
yep, time to seriously tighten belts for the common folk. but lets hold the feet of those fat cats to the fire
Tchoden - Thanks. Me too.
Lime - Agreed big time!
Well, I didn’t vote for that ass monkey and I’m not voting for him to take money that I don’t have.
Hey Zombie. You know with them not passing this last thing. It was like our stimulus checks we got over the summer.. But the house of Reps denied it the other day and Jeff and I feel that everythign is going down hill from there really. I hate to see what this world is going to look like in a year or so.
That said, cut your spending. Pay off your debts. Build your savings. Continue funding your retirement accounts. And above all, make sure you spend less than you make. If you have to hire an accountant to figure why you’re not coming out ahead, do so.
Perfect life long advice.
I can not believe that we voted these idiots into office.
and some folks want the g’ment to run health care????????
Well-put. The bailout is being peddled (via media scare tactics) as some sort of instant, comprehensive fix. It so isn’t.
It would be another example of rewarding failure. *cough* FEMA *cough*
The former head of FDIC was on C-Span yesterday. He said we don’t need a bailout. He said let the banks fail, if they have to. Then let FDIC take over. The people who worked hard for their money will be reimbursed, and the failed banks will have to pay the piper.
Then there’s MY plan. Take the $700 billion and start up 350 new banks around the country. Banking will go back to the old-fashioned regulations, and can refinance the loans held by the irresponsible banks IF the buyers qualify for financing.
This bailout is most likely not going to work anyway, not as long as we still have the same group of fools running the show. Paulson never saw this coming, Bernanke never saw it coming.
Yet they both say that the only way to save our economy is to rape us to the tune of $700 billion.
I remember hearing Bush say we must get credit flowing again. Credit is what has put this country into the situation it is. Personal debt is at an all time high. Much of it may be due to the fact that people just can’t survive on their incomes, but much is due to the fact that they buy things they just can’t afford, and don’t really need.
Our national debt is staggering and it is going to get worse as those due Social Security and Medicare come collecting.
The FED just keeps printing more money to pay for all this and prices keep going up because our economy is being flooded with dollars, diluting their value.
Unless Congress revokes the charter of the Federal Reserver Bank, and returns to printing sound money, things are going to get worse. We may ride this mess out, but our dollar will continue to decline in value and times will still be tough for the average American. Those who got bailed out will come out smelling like roses when they should be hanging by the neck from lamp posts.
Oh yeah Zombie…Take some blood pressure medicine, calm down, and tell us how you lost 15 lbs…
…And above all, make sure you spend less than you make.
Why is that simple statement almost quantum physics to many people?
hopefully they’ll be nice enough to lube up before making us bend over. i doubt it.
A wise man once said, “Corporations that are too large to fail are too large to exist.”
We are seeing the result of too much economic power concentrated in too few irresponsible organizations.
My actual response is too long. I simply suggest you check out an article on this whole mess on the FactCheck.org website:
http://www.factcheck.org/elections-2008/who_caused_the_economic_crisis.html
Just copy/paste it. Wasn’t sure if your comment section allowed for links (HTML), so that’s the exact URL for the article I’m suggesting. If you want to skip all the mumbo-jumbo, the “Real Deal” is closer to the bottom of the article. Interesting stuff.