Never mind the fact this “disaster” has been “looming” for a week. Where’s the huge crash? It’s going to happen bailout or no. Also 700 bilion is hte tip of hte iceberg. The fed has already spent 680 BILLION pumping non-existant cash into other markets trying to prop them up..that makes 1.3 TRILLION so far..not counting fannie, freddie, and AIG. Wake up folks. This is simply Bush and CO trying to screw us out of more future monies and leave us holding the dust.
Something else is the reasons for this theft are…we have to get the credit markets going again. Credit=debt. The entire economy right now is running on IOU’s. Individual Americans are TRILLIONS in debt. Corporations are running literally off borrowed monies. I heard several times about business failures due to the fact they could not get credit(aka borrow the money) to make payroll or finance their ongoing operations.
HELLO?!?!?!?!?! If you have to borrow to make payroll you’re broke! You need to cut expenditures..now. Borrowing to make payrool is like borrowing from one credit card to pay off another. This is totally unsustainable. The amercian(and most likely global) economy is highly over valued, waaaaay over leveraged(aka too much debt) and doesn’t have the actual cash to cover their payments. Even with this theft this house of cards will fall down. The gov’t assertions of preventing disaster are false and stupid. Everyone..get rid of all credit cards..live within your means..tithe, and pay down all debts as fast as you can. Being out of debt or being lightly leveraged(aka little debt load) is the only way to survive the coming downturn.