Serious recession (or even short depression) today or Weimar for our grandchildren. If there is to be a collapse, let it be now, lain as close as possible to the feet of those responsible. I don’t want those yet conceived to have to deal with the major structural unwinding of our own irresponsible financial practices, while the guilty parties leave this life in comfort.
I don’t entirely buy the dire predictions being offered by proponents of the bailout, but even if their portrayal is accurate, fine. I personally stand to lose (what is to me at least) a great deal of money without a bailout, and gain a great deal with one. But that is insufficient grounds to endorse foisting national socialism (Keynes on crack) upon America in such an unprecedented dosage. $1 trillion is not enough to loosen the vise of the liquidity crunch, and the idea that the taxpayer could eventually profit from these federal manipulations is laughable...fairytales offered by the purveyors and gluttons of corporate welfare who seek to cash out ASAP on as high a note as possible. All free-lunch utopian promises are deceits.
Activist fiscal policy should die a painful death after this crisis - the Federal Reserve is a failure (short-term stability at the expense of long-term solvency), and the political manipulations forced upon the market by the failed policies of the New Deal, Great Society, and their progeny are the forces responsible for any ruin (in conjunction with those private interests conspiring in a criminal capacity to profit from the taxpayer - many of whom have long acted in the best geopolitical interests of nations other than America).
One GOP (which Bush is apparently no longer part of) plan is as good as one can hope for in this mess - cut capital gains and corporate taxes to almost nothing for 2 years. That, in conjunction with a promise of no more bailouts, will take us through this turbulence. It won’t be pretty even in the best case, fine with me. My grandfathers helped defeat fascism last century. I will not happily allow their sacrifice to be diminished by the adoption of soft fascism here. Take the money and stick it!
Well put, thanks. It great to realize that others feel the same way as I.
Another thing that would do it is open up all drilling, open up all forests to logging and stop the environmentalists, communist crap that has so hurt this country in the last 2 decades.
Obama is coming off in this like he doesn’t want to be involved....like the idea of being POTUS has gone to his head so much that he feels being a senator is beneath him now. He is saying that this issue is important, a crisis but yet he doesn’t want to help solve it if it means rolling up his own sleeves. I think the American people will see this as HIGHLY ELITIST!