The Bail Out, My Money, and John McCain's Suspending of Campaign
So unless you're one of the lucky few among us who are not aware of your surroundings, we all know that Congress is debating a bill proposed by the White House to give Treasury Secretary Paulson a blank check to fix this housing crisis. Because really, $700B is just a guess, right? He could need more.
What do I think?
My first reaction is NO, NO, NO, NO. People lose money. It's the way things go. People. Lose. Money. They lose retirement, they lose pension, they lose savings. People. Lose. Money.
There is not inherent right to money. There is no inherent right to lines of credit.
I can say this, because like many of my fellow Americans, I stand to lose a bit of money if the bailout does not go through. But why, you ask! Why would I not want to have my savings / investment / etc. backed up by the feds? Secured by the feds?
Because I already put money in their once guys, and I don't want to put money in there again, essentially depositing twice and only getting the one amount. It's like depositing two $20 checks and still only have $20 in the bank.
Plus, well frankly if we need to have another downturn, then it's time for a downturn. There is no rule that says the economy has to run hot and good for years on end. In fact, there's a rule that says the exact opposite.
The market must weed out the bad fish.
Now ... John McCain's suspension of his campaign. From a political perspective ... good move. He out acted his opponent. Neither one were doing anything, McCain did something. So when people say "well what are you doing to help with the crisis?" McCain can say ... "I suspended my campaign so that I could go back to work for the American people."
From a realistic, Stacy lives in the real world perspective, pandering. Pandering. Pandering. All cheap parlor tricks. He can't do anything.
And, achem, he should be able to do both. Normal people have to balance their work lifes and their other lives (let's call running for President a hobby), he should do the same. And I will be really, really miffed if the debates don't happen on Friday. The Senate is out of session as of like 4PM. He can make an 8PM EST debate. Maybe change the topic from foreign policy to economics, but, neither of them will go for that. Neither of them are smart enough to tell the country what's going on and what's going to fix it.
Because no one knows. But Paulson and his "non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency” crap can go bite me. You're a big boy, take ownership of your actions. If what you do damages the country, you. should. be. held. accountable.
You can't fire a gun and say no one can blame you. You can't ask for $700B and be beholden to no one.
The truth is, we'll weather this storm. We'll get through it on the other side and if it's bad, it's bad. There's nothing we can do about that. We have to pray that we'll be alright and if there's concern and worry ... give those over to God. Because the folks in Washington don't have any earthly clue how to fix this.
What do I think?
My first reaction is NO, NO, NO, NO. People lose money. It's the way things go. People. Lose. Money. They lose retirement, they lose pension, they lose savings. People. Lose. Money.
There is not inherent right to money. There is no inherent right to lines of credit.
I can say this, because like many of my fellow Americans, I stand to lose a bit of money if the bailout does not go through. But why, you ask! Why would I not want to have my savings / investment / etc. backed up by the feds? Secured by the feds?
Because I already put money in their once guys, and I don't want to put money in there again, essentially depositing twice and only getting the one amount. It's like depositing two $20 checks and still only have $20 in the bank.
Plus, well frankly if we need to have another downturn, then it's time for a downturn. There is no rule that says the economy has to run hot and good for years on end. In fact, there's a rule that says the exact opposite.
The market must weed out the bad fish.
Now ... John McCain's suspension of his campaign. From a political perspective ... good move. He out acted his opponent. Neither one were doing anything, McCain did something. So when people say "well what are you doing to help with the crisis?" McCain can say ... "I suspended my campaign so that I could go back to work for the American people."
From a realistic, Stacy lives in the real world perspective, pandering. Pandering. Pandering. All cheap parlor tricks. He can't do anything.
And, achem, he should be able to do both. Normal people have to balance their work lifes and their other lives (let's call running for President a hobby), he should do the same. And I will be really, really miffed if the debates don't happen on Friday. The Senate is out of session as of like 4PM. He can make an 8PM EST debate. Maybe change the topic from foreign policy to economics, but, neither of them will go for that. Neither of them are smart enough to tell the country what's going on and what's going to fix it.
Because no one knows. But Paulson and his "non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency” crap can go bite me. You're a big boy, take ownership of your actions. If what you do damages the country, you. should. be. held. accountable.
You can't fire a gun and say no one can blame you. You can't ask for $700B and be beholden to no one.
The truth is, we'll weather this storm. We'll get through it on the other side and if it's bad, it's bad. There's nothing we can do about that. We have to pray that we'll be alright and if there's concern and worry ... give those over to God. Because the folks in Washington don't have any earthly clue how to fix this.
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