Get ready for some really stupid answers.
We may have to support our kids.
Mine would be this: a substantial decline in credit available, to both consumers and to businesses, will lead to a serious economic slowdown that will be difficult to climb out of, taking a number of years. Housing could very well take a decade or more to recover. This may happen anyway, even with the "bailout." Hopefully, though, this will stabilize the financial system enough to avoid widespread bank failures, which appear to be all but certain without some sort of intervention.
Well, here is your really stupid answer.
I am curious, in fact I think I am furious.
I first thought this didn’t concern me as I had no investments. Whoa..
I owe no one because I have not tried to keep up with ? But am I now going to have to pay more taxes for all my peers who had to live in their McMansion’s while I lived in my paid for shack?
Where is the justice? That was exactly what I was trying to get away from. But now I’m going to be saddled with their bill?
Would you prefer a DOW 8000 and a few years of recession?
Nobody should be happy about this being necessary but we should be less upset that there are rational options (barring Congresses input).
I’ve already seen plenty of stupid answers about how we should ‘let them all fail’ or ‘teach them a lesson’ with no idea of what it would be like to have an actual recession/depression and a stock market more like the one in the 1940s or 1970s which didn’t move for decades and no wealth is accumulated by either individuals or companies. Think Europe.
But boy would that ‘teach them a lesson’!