I believe if this 700 billion package passes, all the progressive ideas will not come to pass. Check out why I think so. (well rant too) ;)
I understand what is going on with the financial markets. I won't get into it all over again (others have already gone over it). I have worked in trading firms and have seen alot of scummy stuff going on behind the scenes. I worked in IT for these companies and know alot of the scams they all run. I quit those jobs, because I couldn't sleep at night from what I knew they were doing to investors, traders and the American public. (stupid me for having a conscious) I do not have any money in the stock market (even tho I could have) because I do not believe in the system we currently have and do not want to be part of a huge Ponzi scheme. I gasp save my money and buy only what I need. ( I know, novel thought)
That being said, I am deeply concerned over the proposed $700 billion dollar bailout. From my knowledge, It won't do anything to help. In my opinion it will make matters worse. Not just on Wall street, but for all progressive ideas. IF (and it is highly probable) that this bailout goes thru, where are we gonna get the money to handle the growing issues in this country? Borrow more money from China? BUHAHAHAHAHA
What is stopping Democrats and Republicans from yelling after January? "WE CAN'T AFFORD HEALTH CARE!" "WE CAN"T AFFORD NEW BRIDGES!" "WE CAN"T AFFORD SCHOOLS!" Our dollar is already tanking and this is actually a secret tax on all Americans. The more money we print and borrow, the less it is worth. Soon we will be paying almost 10% on our own money before we even get it! I say, If we are gonna go into debt, lets get SOMETHING we can use.
Let's say this does "help".Who is to say the rest of the world says "These guys are fckd. They will never be able to pay us back! Lets get our money out of there!" ( I personally believe they are saying that now). China, Britain,Europe, Middle East, ETC. Is putting alot of pressure on the powers that be to keep this gravy train going or else face financial ruin or war. We can sit here and blame whoever (there is PLENTY of blame to go around) What we need to think about is what choices we have for the future. Some of Obama's answers (or lack there of) have started me to rethink my support for him. I believe we need CHANGE now, not later, maybe, if we can get to it or when we are forced to, kinda sorta, if we can afford it. The decisions these guys make now, will directly effect the next president's ability to move this country forward. He needs to stand up to these guys trying to steal 700b. And if he does, I guarantee he wins the election. But I think he is listening to much to old Clinton advisors (some of those clowns helped cause the problems we have now).
Now I am usually a negative Nancy (sorry just a pessimist at heart). But I do believe there are better ways to fix this problem then trusting a bunch of Ex-ceos of failed firms that were appointed by ex-ceos of failed firms who steal elections to make decisions.
Now I am not a expert, but I think its pretty simple to fix this problem from the bottom down. If anyone wants to fix this..... get people working! Make up some jobs (trust me there is alot of work to do in this country).
People have good paying job=Pay for house=Pay for bills=Banks do well
The Unemployement number is a crock of shit. Bush&Co. changed the way they calculate it to make it look lower. If it is at 6% now, it is most likely around 10% with the old CORRECT way of calculating it. This goes for growth, GDP, etc. Bush changed it all and has been cooking the books since just before the Iraq war started. Its a common known secret on wallstreet. But why would they tell the truth?
The Democrats should have impeached this menace. They will regret the day they let this guy steal 2 elections, cause 2 wars and ring up our bill so that the whole word's economy is at risk of collapsing and quite possibly destabilize the planet into World War 3. This is the last "FUCK YOU" to the American people Bush can stick up our collective asses. We must stop it.
Please contact your senator and Representative. The more pressure we put on them, the more they have to rethink this madness. The future of our country is being stolen from us and needs to be retaken.