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For the record ~ “Be thankful we’re not getting all the government we’re paying for.”

Wake up

October 2nd, 2008, 6:13 am · Post a Comment · posted by aubreywoods

You can add me to the list of people who are against the bailout, and that’s what it is no matter what they try to call it.

Where are they going to stop? You know there has to be some insurance companies in serious trouble after Hurricane Ike. Are we going to be asked to bail them out next? Probably.

And them we’re going to be asked to help prop up the automotive companies because they aren’t selling any cars.

The newspaper industry also has been hit pretty hard in recent years because of a decline in ad revenue. How about bailing them out?

I think we need to let the investments firms that got into this trouble find a way out or fold. 

I’ve heard all the forecasts of doom and gloom if the bailout doesn’t happen. There’s plenty of talk about how the average Joe will not be able to borrow money to purchase a home or a car if the bailout doesn’t happen.

Wake up. People aren’t buying homes and cars anyway and they haven’t been for quite a while now. Count the empty homes in many of the new neighborhoods that went up in the past 10 years or so. People aren’t even buying used homes let alone new ones.

There’s been lots of talk about companies not being able to borrow money to expand or even to pay their payrolls. I haven’t heard about many companies looking to expand in this down economy, and if a company can’t meet it’s payroll, maybe it shouldn’t be in business.

Maybe a tightening of credit also would lead to people not tryng to borrow their way out of debt as suggested by a local banker. That would be a good thing.

I’ve always tried to limit how much money I borrow and if I can’t afford to pay cash for something I generally don’t buy it. It’s a lessen my grandparents, who weathered the Depression, taught me.

I also could care less about the blame-playing game going on in Congress right now. There’s plenty of blame to go around.

I also don’t favor the idea of helping those people who can’t pay their mortgages even though my son and his wife lost their house because of this mess. Nobody offered to help them earlier this year, and I don’t see anybody offering to help me out either. 

I’m also opposed to government intervention in area because for one thing, the government does a poor job of getting anything right when they get involved with the private sector. That’s because the government doesn’t know how to run a for-profit enterprise.

I think we just need to let the chips fall where they may and forget about mortgaging the futures of our children and grandchildren so that investors, who are doing little more than gambling any way, can be saved from financial ruin.

It sounds to me like that’s where all of us are heading anyway. It’s going to be years before my 401K recovers to the point where it was back on Sept. 11, 2001.

That mean’s I’m going to be working a lot longer than I want.

if the government is going to give away money, give it to the people and not the greedy people who started the mess in the first place.

I can find one bright spot with the whole economy picture. In the year of a presidential the economy always seems to just fall apart. It takes a couple of years right itself and that’s likely to happen again this time.

I hope.

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Posted in: Government

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