Hi ophiuchus,
You will find that nobody will complain at this moment in time. The 'money' being put up will make a lot of people very rich over the short term.
I can't justify seeing the dollar strengthen against other major currencies when the Fed just stuck a tril in circulation overnight. If anything, with this boost of inflation, the dollar should weaken. But, at the moment, it hasn't done so. It seems to be going against the correct flow.
The current government in the US want McCain to win the 'elections' so it had to do something to stop the jitters on Wall Street - forget about the rest of the world for the moment.
The US as to show its' books at the end of September. With all of this extra money floating round and the humongous debt that has been accrued, what do ou think will happen? Chances are there will e some excuse to stave that one off.
Several countries have already started to deal in Euros for their international transactions which also aggravates the American cash flow and consequently economy.
The deal set today to make a fund for bad debts has just opened the flood gates for more reckless lending by greedy corporations. After all the 'fund' will take care of the chaff, whilst the companies will just have to worry about the wheat. Also the bad debters won't be overly worried after all the government will come in and help them out with the 'fund'.
Don't forget the fat cats in Washington have to preserve their piece of the cake also, so like in any developing country, they use public money for their own gain.
Both McCain and Obama will suffer as president, whoever 'wins'.
Best regards,
Steve
Quote:
Originally Posted by ophiuchus
this bailout plan is total crap. i can't believe i don't hear many senators or congressmen fighting on our behalf. funny i don't hear a lot of people ****** off either. do you think it's the fluoride in the water? this is a total disgrace or we're all a bunch a loonies.
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