More of the New Bailout
I really haven't been listening to Glenn Beck very often... I haven't been getting up early enough and, to be honest, he's a doomsayer about the economy and I REALLY don't want to hear it, but I decided to turn him on just a couple minutes ago and he was interviewing Tennessee Senator Fred Thompson (at least I think it was him... It was according to his website) and I heard him toss out the best quote ever in relation to the stock market and this disastrous 700 billion dollar bailout:
It's not right to tell a soldier to risk his life for freedom in another country when we're afraid to fight for freedom at home because we might lose a paycheck.
Not an exact quote, but it's good enough... Either way, the idea is amazingly perfect. How dare we accept this bailout just because we're afraid we're going to have to do without some of the money we're getting right now. But! Remember! Consistently, the vast majority of the American public is diametrically opposed to this bill! We're smart enough to know when Congress wraps the poisonous pill in a coating of sugar in an effort to tempt those who are on the fence. Swallow the pill and go MMM GOOD! And then the timed-release function of the pill kills us all in the months following... Remember the bath tub analogy I wrote yesterday? It really is like that. There's a hole in the economy left by the Democrats and the Clinton administration who sealed the deal with forcing banks to loan to low-income family under the guise of "fair housing". Freddie Mac and Fannie Mae are the two companies designed to drive this plan... They're not "the fault". They're specially designed smoking sniper rifle aimed at the economy with the Democrats holding the gun. Because of the Democrats, through Freddie and Fannie, the entire loaning system has been compromised and is slowly collapsing. Infusing the economy with 700 billion dollars is only an effort to slow down the collapse. Congress (or those who've bothered to explain this bill) has repeatedly said this will not SOLVE anything, just postpone it. They don't even know what'll happen, but... Please! We all know that the government has a pretty tenuous grasp on the workings of the free market anyway. I wouldn't put much, if any, stock in what they're saying. (Haha, I made a pun... By accident, I swear. Seriously, it's just a saying that came to mind and with all the stock exchange talk lately, I just now made the connection.) But there's a hole in the economy... A drain opened in the tub, so to speak. The water level is dropping so Congress wants to fill it back up without plugging the drain. Eventually, we're going to have a low water level... But, see, the thing is that the stock market has consistently, throughout history, proven that the less government interference, the faster the markets plug the drain themselves and start growing again.
If you look at the stock market at this moment, you'll see the Dow Jones Industrial Average has fallen 236 points today... AFTER the Senate passed the new bailout bill. That's all the economists should need to realize that this bailout bill isn't going to do anything. Sure, it's fluctuating A LOT, but the market is going to fall eventually! Let it happen now without a bailout so we still have some ounce of dignity left! This bailout bill will compromise everything we believe in... The reason the United States is the leader in the economic world is because our government doesn't play with it like everyone else does! Don't change it after over 200 years of success. It seems like we all have to keep beating it into heads that the market regularly grows and falls and that recessions aren't bad! It's the natural cycle when the market falls enough for new investors to get on board for the long term and then sell when the market gets high! What happens when people sell? That's right... It falls and we have a recession! Recession is such a curse word these days... Nobody wants the dreaded "recession", oh no! No, people. Recessions are fine. We don't want a depression, which is caused when the government tries to do exactly what they're doing now: Inject free money into the market and cause radical inflation and prevent the economy from adjusting to the natural cycle of things.
I just want to say that even if you don't buy the reasons for the whole problem (which we really need to assign blame to so we can punish the politicians responsible and learn what happened so we can avoid it in the future), you NEED to contact your Representative! Remember how to do that? Congress.org? You can even use that site to write a letter to your leaders... It's really nice, actually! Can even pay a fee to have them deliver a full letter, if you want. I just opted for email because my Representative is Dan Burton, who is probably the best guy we have right now. I trust him, but I just wanted to make sure he knows we don't want even this new bill with the tax cut sugar coating. If you want to check out the letter for yourself, you can go see it! I made it a public letter... Which you should really do, too!
It's important... The House of Representatives votes on this new 471-page bill tomorrow. My gosh. Listening to Rush Limbaugh now and he says it's the size of a novel. It really is! This is the very definition of an earmarked-to-oblivion bill. "Crisis", indeed... Think of it people. If this was truly a crisis, Congress wouldn't have filled this with an incredible amount of fluff. It's all a lie. We don't need this... Make sure your Representatives know you don't want it, and if they vote against you, VOTE THEM OUT!