Why I am Against the Bailout

So even though I would rather not go through a recession, and I would definitely not want to go through a depression, I am totally against the bailout bill. There are several factors about it that make me sick.

First, I don't think it would solve anything. I haven't heard anyone say that this will solve the problem with our economy, simply that it would soften the blow.

Second, I don't think we should reward the companies that got themselves into this mess. Why would we give money to companies that made poor business decisions? They got themselves into this mess, and need to deal with the consequences. In a capitalistic economy, private companies can't rely on the government to save their butts every time things go south. Second, if the underlying cause of these companies failures is not addressed and changed, what good will more money do? You need to fix a bucket with a hole, or filling it with more water will do no good.

Third, I am disgusted that they have filled this bill full of pork. I mean, the thing is over 400 pages! If this bill is really so great, will really save the economy, and be good for everyone, why would they need to "sweeten" it, in order to get people to vote for it? What sense does that make? Beyond that, if our economy is in such peril, why would they add another $150 billion to the bill? Do they know how to do anything but spend? Props to the government for extending tax cuts, that's always a good thing, but do they have to be attached to a $700 billion+ bill?

Fourth, I don't think that the government can do anything to help our economy. Government interference has been the main cause of this crisis, and now they want to intervene even more? The "Community Reinvestment Act" and "fair lending practices" led to terrible loans being made, and caused foreclosures to skyrocket as a result. The only way for the economy to be fixed, is for it to fix itself. We have to let it crash, before it can rebuild. Any government interference would simply forestall the inevitable, by creating a temporary bubble. Once the government calls due the bad debt they have taken on, the bubble will burst, and we will back to square one, or perhaps even worse off.

Congress can't afford to ignore the American people. This bill is wildly unpopular for a reason, it doesn't make sense, it doesn't address the real problems, and it doesn't solve anything.


Seven Star Hand said...

Hi Nick and Mandy,

One must understand the truth before any true solution is possible. There's much more to this unfolding story than meets the eye. Be a little patient to understand it and then hold their feet to the fire!

Money Karma comes home to roost !!!

This is the long awaited opportunity to finally "kill the beast" and kick all the bums out, forever. Read what I have been saying for insights into another way to manage this civilization, without money and without evil cabals running this world. The keys to a "New Earth" are wisdom and cooperation, not the fears and follies of the past.

It will soon become painfully obvious, to even the most clueless, that it will be far easier to step away from the deceptions of the past (money, religion, and politics) and finally fix our civilization so it works for everyone, not just for a self-chosen and abominably greedy few. Why should humanity struggle and suffer any longer to repay massive debts and endure great debacles created by amazingly greedy and deceptive monetary and political leaders? Are you familiar with the ancient concept of a Jubilee? It's time has come, and the power of the rich and arrogant is about to be blown away on the winds of long-overdue and irresistible change.

Here is Wisdom...


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