“If somebody who knew the future pointed out a child to you, and told you that the child would grow up totally evil, to be a ruthless dictator who would destroy millions of lives, could you then kill that child?” —The Doctor, Doctor Who: “Genesis of the Daleks”
Thursday, July 24. 2008What the bailout really means
So, now they’re talking about bailing out the mortgage companies. Let’s put this into perspective. Bailing them out will mean more deficit spending, which will increase inflation. That inflation will eat into our earnings by resulting in even greater prices at the checkout counter, and the gas pump, and everywhere else, and more significantly it will eat into savings, including our retirement accounts. So, really, what they’re proposing is to take wealth from people who have saved and spent their money wisely, and give it to people who made foolish investments and paid the price. Sounds like a typical government reaction, doesn’t it? Trackbacks
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 Sigh,Well, this crazy liberal has to agree with you completely on this one. About 3 1/2 years ago my wife and I wanted to build a new house. We looked into financing and were told we could have done it, based on the potential of my wife’s new job and the low interest rates on adjustible mortages. We immediately said no way to the adjustible rate and, after cruching the numbers, realized we would be really cutting it close even with a fixed rate. What did we do? We said no and bought a smaller house until we could afford the big one. Now the Dems and Republicans look like they are going to bail out everyone who made a stupid deal and the idiots that made the deal for them. GRRRR. |
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