Two things:

1) Since the "pause" on the 700B plan, oil dropped from 130-->107 and the dollars value increased. What does that tell you?

2) CNN had a worthless poll that said 78% of peeps say REPs are at fault for the current econ issues, apparently they forgot about the DEM lead Congress for the last 2 years....that would be the "we have lower approval rating than BUSH", Congress.

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An unwavering defender of those I see worth protecting.

"promote the general welfare, not provide the general welfare"

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

I haven't posted in a while, but I'll break my silence for this one...

None of the economists have said the obvious reasons for what happened, as they are all cheerleaders for the current system and admitting what went wrong would be admitting the flaws in the current system.

The underlying problem with our economy is that too large a percentage of the wealth is controlled by too small a percentage of the population. As a healthy economy relies on consumer spending, it is important to keep money in the hands of the masses so that they can buy and buy more. So what do you do when the masses no longer have any money due to a steady declining of wages over the past 30 years?

Simple.....you let them borrow the money. You issue them credit cards, and more credit cards. And car loans to buy vehicles....and mortgages to buy homes....

And when the masses max out their credit cards? You issue them new ones with higher limits.

And when they can no longer afford the payment on a 3 year car loan? You start issuing 6 year car loans.

And when they can no longer afford the mortgage payment on a 30 year mortgage? You start issuing 40 and 50 year mortgages, and adjustable rate mortgages.

But eventually, you have to cut off the credit somewhere. And when you do, everything comes crumbling down. And that is where we are now.

So how do you fix the system? All the $700 billion bailout will do is extend the credit even further, and along with that, weaken the dollar even further.

The only solution that will fix things, is one that will put more money in the hands of the lower and middle class, not one while will "loan" them money, and certainly not a solution which puts more wealth in the hands of the wealthy.

How about instead of giving $700 billion to some large corporations, we use that money for some sort of public works program so that people out of work can get a job. Or we can use some of it to help develop alternative energy -- something that would not only put skilled educated workers to work, but would also solve another problem we are facing. In fact, with $700 billion, you can do many useful things. Giving the money to the companies that pissed their own money away is not one of them though.

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my experience on X5world when I spend too much
time posting in political threads in the lounge...

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I agree with you Eric. The consensus response seems to be "oh, well it would be worse if they fail..." worse for whom?

"Look around you Helen, we're standing at the threshold of hell" - Clark Griswold, NL Christmas Vacation

__________________

An unwavering defender of those I see worth protecting.

"promote the general welfare, not provide the general welfare"

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.