Was this story economic terrorism?
Problem- Banks will close for one week
Reaction- American Public: "Congress, do something to stop this NOW!"
Solution- Pass (still vague) Bailout Bill
Certainly we need to be vigilant in order to catch the PTB in or (hopefuly) before the "act". I think this eternal vigilance, though, leaves us susceptible
to this sort of fear based pschological terrorism.
I'm not saying that anyone here necessarily was duped by this scam (unless after hearing this news last night, you e-mailed your congressional reps and demanded the bailout be passed). FDIC insures your deposits up to $250,000 (recently increased from $100,000). Now I
have just read that the FDIC only retains about $50 billion to cover $1 trillion in public funds. Even so, I always have enough cash to cover a week (at least) as I'm sure many of you do.
I am syaing that ostensibly it looks like the reason the bailout was passed, was because of the sort of fear generated by rumors like this. We need to analyze the info we receive very carefuly, but even more importantly perhaps, the reaction to said info.
Quote:
Originally Posted by starsoul23
I like it when the teacher tells the students that in the movie The Last Mimzy. We are them part
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I saw that movie one day before I discovered the Dan Burisch information. Very relevant.
I like the end too.