Monday, October 06, 2008
Bum DealOn Friday, when the House finally passed the bail out bill, did you ever see anything get signed into law so quickly? Do you get the feeling that there's 700 billion that we'll never see again? But hey, at least the markets are stable, right?
Well....stable is not a word I would use to describe the markets today. When I got up this morning, the headlines read, "Dow Drops Below 10,000" but that was like hours ago, we are now below 9800. The market has another 45 minutes to recover nearly a half a trillion of our investments, those investments that the bail-out bill was supposed to save. So now, we the people, are not only out the $700 billion that we gave to Wall Street, we have also lost nearly 4 percent of our savings in a period of 8 hours. So who got the $700 billion? Where did it go? And since the scam didn't work, can we get it back?
Americans have been stupid again. We were told by our sitting President, and both candidates, the Speaker of the House, the Secretary of the Treasury, and even Warren Buffet, that this bill would stop the bleeding. Democrats were wrong, Republicans were wrong, the only guy who was right was Dennis Kucinich. That's the guy who should be running for President right now. I know, I know, he saw a UFO, but my sister Karen saw a UFO, and she is one of the most stable people I know.
Now, here's the thing. The bail-out didn't work. So you and I both know that they will come asking for money again. I hate to quote Nancy Reagan, it just underscores how bad things are at this point, but when they come begging for more money, here's what we do.
Just say no.
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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