...and history will say that it began in the fall of 2007. Today, if there wasn't a government buyout of all the bad debt incurred by these financial idiots who loaned money on a song and a prayer, the banks would stop lending money and the economy would grind to a halt al la 1920s Depression. "
That's clearly really bad," say the experts, the ones with doctorates in economics and the only ones capable of understanding what is going on. It's pitiful to think that our economy was thriving only because of the stock market, the housing boom and a huge mountain of personal debt. This is the first sign in this whole financial mess that the every day person was even considered important enough to mention. The result, after all the dust is cleared, is that people, every day people, will be more conservative and purchase without going in debt. Greed bit the hand that feeds it way too many times. What a novel concept.
RSS
4 comments:
Buy without incurring debt? What a quaint idea!
Seriously, this is where conservatism would help a few people out. Bail outs are lame and teach nothing.
Who is going to bail out the government?
Well, it certainly doesn't teach about accountability or responsibility!
And that's a good point, Paul. Where is all this money coming from since the government is already trillions in debt itself?
It's coming out of someone's ass. Poof!
But always remember the U.S. economy is $14 trillion. Way above the debt. It's a matter of readjustment. It's not the end of the world but bailing dead beat corporate boobs is not healthy.
Post a Comment