posted on Sep, 24 2008 @ 02:15 AM
IMO, it might work on the short term. It may boost confidence, and it may keep businesses afloat for a time, thus securing more jobs for a time.
In the long term, and by long term I mean a year or two, we're going to be back to where we are now. This "bailout" doesn't address the core
issues of credit spending, and it's because we spend and trade money we don't have that we're in this mess now.
What were all these companies that are being bailed out trading in as if it were a tangible good? CREDIT, for god's sake. They're trading on money
that doesn't even exist. A good chunk of the money "lost" isn't piles of cash held in some vault in the basement of Lehman or AIG or Freddie,
it's perceived value based on stock price and how much money these companies can borrow from another bank.
It makes me really angry that all this bull is because of money that doesn't even exist in reality.
Unless we change this messed up system of perceived wealth, we're gonna just keep coming back, over and over, to square one.