posted on Sep, 19 2008 @ 01:33 PM
reply to post by disgustedbyhumanity
No I completely disagree!!! I get what is happening behind the current crisis and while a complete and catastrophic economic collapse would suck I
feel like this is just postponing the invititable! Here is why...
1. This is not in the long run going to fix the dollar, if anything it has scared foriegn investors away... It does not bode well for this country
when we have to "rescue" our economy!
2. The government has never struck me as "having a great head for business"! the 100 dollar hammer, thing! they are going to sell at least the
foreclosed homes for the lowest bidder the alternative is sit on them which NEVER works because the homes quickly fall into dis-repair-- either way
what does that mean..... increased falling home prices!
3. Why do we need more "credit". We need to STOP assuming debit not take on more! Maybe unavailability of credit will be a good thing for a while,
make us more self sufficent, yeah it will be harder to buy big purchases but we could try "saving" money for once!
4. What is this going to do for me? Hey I pay my mortgage on time am I going to get rewarded? The answer is NO and while I should not expect to I also
should not have to pay for this debt!!! THe S&L Loan scandle cost each and every taxpayer in the US for a total of 124 billion of the 150+billion
dollars we gave out for a net loss of about 80%! How much are we going to lose here and we are going to lose, history tells us that! So lets say we
get out of this for 1 trillion, which I think is a low estimate then that leaves us footing about 800 billion! Where are we going to get this money?
Do we increase taxes? Or do we make some cuts, hey I know we will trim some off education or social security!
5. Finally and this is the most important thing there are so many things affecting this country right now high unemployment, gas prices that are most
likely going to stay above 3.25 which are jacking up not just the price of an average person's commute but also pretty much EVERYTHING you buy! And
guess what folks winter is right around the corner, adn feul costs typically go up!
6.Which bring me to my last point... Inflatation... what is this plan going to do about that?