...because it will always use Socialism to bail it out." It's a cute quote from Nader. More of a sound bite since there's no facts in it, but is sure expresses my feelings on each school of thought.
So now that I've read some more specific support of this plan in Washington I am no more convinced than I was before, maybe less. Everything I read in support of it before was things like "It's really bad! Disaster! Crisis! Collapse!" Very scary, but more importantly very vague.
It was clear to me what was happening. The Bush administration had one more bit of fearmongering left before they headed out. Then I heard Secretary Paulson's plan. "Give $700 billion to me and the Chairman of the Federal Reserve. You may have no oversight and I can't even tell you what I plan to do with it. If you don't give it to us right now, we are all paupers."
Personally I would have thrown these two men directly into prisonl for even asking that question during a time of panic.
Again it was clear what was happening. Bush and Co. were using a great panic to rob the middle class and the poor and give the money to their best friends. It was 9/11 all over again, except corrupt banks and government puppets were flying the plane and the target was Wall Street.
It was another example of what happens when you mix the 2 disastrous forces that are socialism and capitalism. The profits are privatized and the losses are socialized. Trickle down economics works as long as it's the losses that trickle down.
All the experts say this money is the only answer. But is it truly our economy that fails if we don't do this? I think we have the means to weather this storm. I think we need to let the market weed out the people who thought they could just invent money and rob the poor.
I think Wall Street needs a wake-up call of this magnitude. It would hurt for a while, but we would certainly recover. If we just build a new glass house on top of the one we have that's falling apart, it'll just make the fall that much more painful.
So now that I've read some more specific support of this plan in Washington I am no more convinced than I was before, maybe less. Everything I read in support of it before was things like "It's really bad! Disaster! Crisis! Collapse!" Very scary, but more importantly very vague.
It was clear to me what was happening. The Bush administration had one more bit of fearmongering left before they headed out. Then I heard Secretary Paulson's plan. "Give $700 billion to me and the Chairman of the Federal Reserve. You may have no oversight and I can't even tell you what I plan to do with it. If you don't give it to us right now, we are all paupers."
Personally I would have thrown these two men directly into prisonl for even asking that question during a time of panic.
Again it was clear what was happening. Bush and Co. were using a great panic to rob the middle class and the poor and give the money to their best friends. It was 9/11 all over again, except corrupt banks and government puppets were flying the plane and the target was Wall Street.
It was another example of what happens when you mix the 2 disastrous forces that are socialism and capitalism. The profits are privatized and the losses are socialized. Trickle down economics works as long as it's the losses that trickle down.
All the experts say this money is the only answer. But is it truly our economy that fails if we don't do this? I think we have the means to weather this storm. I think we need to let the market weed out the people who thought they could just invent money and rob the poor.
I think Wall Street needs a wake-up call of this magnitude. It would hurt for a while, but we would certainly recover. If we just build a new glass house on top of the one we have that's falling apart, it'll just make the fall that much more painful.
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