So, we are told that the economy is fine until a week before congress is set to let out, then all hell breaks loose in an event where banks, the people set to benefit the most, stopped giving credit and sent a huge scare through the world. Then we are told that something has to be done instantly and Bernacki within the hour has the magic number of 700 billion in the form of a blank check with no regulation that needs to be passed through by congress before they let out or eminent disaster is sure to strike. Wamu, right on time, was seized by the same government that Just hours before asked for a blank check because something like this could happen. Then the feds sell Wamu to chase. Chase gets a sweet deal. This all is just too convenient and too easily manipulated for me to feel that it is anything but a scam.
Friday, September 26, 2008
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5 comments:
I don't buy it either but it is making me nervous. Whatever they end up doing is going to hurt us more than it will hurt them. I keep thinking about taking my money out of the bank because now I'm hearing Regions is about to tank and they just bought AmSouth. They tell us not to worry because of FDIC but if the Government is Bankrupt how are they going to reimburse me? I am sure it will get worse before it gets better. I can't wait to live in a van down by the river.
It demands more than 700 words, but I get your point.I will agree Bush has been telling us the economy is fine, as has McCain, but Obama was calling BS on that at least six months ago and others were doing it well before that.What we're seeing is the natural eventual result of deregulation run amok. It's just that certain key people simply refused to acknowledge it until it was too huge a mess to ignore.All the resultant political skittering and scurrying is indeed worrisome, but too convoluted for me to understand completely.
I agree. we are a nation of debt. We seem rich on the surface but we just owe so much money. Take a look at Ron Paul's response on his website. Heck, you can even look at Dennis Kucinich's website.
It makes me think of that old Chinese proverb: "It is good to follow the rule of holes If you are in one, stop digging!"
I decided a long time ago to pay as I go. No credit for anything. The pressure of my life is much less. I always have enough. I never worry about where it is going to come from, how will I do this and that. I just do what I can afford and when I can afford it. I keep a little pile tucked away for special occurances. I watched Nader on HBO last night and have been seeing Ron Paul allot lately. Kucinich not so much. We just need to get on with it whatever it is. We spend so much time building up to these elections that by the time they get here we don't give a crap once they have happened.
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