Really? Really? The dow jones dropped AGAIN? All right. I don't know about anyone else, but I was totally under the impression that the bailout was designed to cease the falls and falings of the stock market. But apparently, that's not the case. So. My understanding is as follows:
a.) If people don't trust our government, then our economy is going down down down
and
b.) The government is spending a lot of money with projects that aren't working out too well.
So.. let's set the basis of the problem. The bailout was passed which sent 700 billion (with another 150 billion ish tax incentives added on) and that pumped cash into our economy which either has inflaiton or recessions happening. Then, too top that off, that gamble didn't make any other stock owner feel safer, so they keep sell selll selllllling their stocks. That's a no-no people. If anything, everyone should be buying. When everyone feels like, oh hey, let's buy some now, the stock market might finally start to go up. The thing is that whether in one year or ten, the stock market will go up again. The stocks will be worth something again and it would be silly for people to pull out in the red (unless of course they need the money ASAP...but really, patience America? Impatience is what got us in trouble the last time...)
But anyway, another big trouble is that the banks are being stupid with a capital S. They aren't lending and that's cause problems everywhere. First businesses can't get loans, then business dont have loan money to give to employees, then employees get laid off and don't pay taxes and reap government programs (like welfare), and then the gov't goes crazy and decides to pump hundreds millions of more dollars into the economy again. Which means more borrowing from foreign countries like China (remember when we freaked out about Communist?) or it means more inflation and recession. But who knows, maybe some good old recession is the slap in the face people need to be fiscally responsible. Don't live outside your means. But then again if we aren't spending, then our economy where more than half is based on buyers buying, isn't as powerful. Anyway. I think we should just take the money the CEO's got from their golden parachutes and put it back into the banks instead of printing more bills. Or we could just bully the banks into lending money with decent measure.
Sigh... it just seems like people are too extreme. There's a happy medium and I'd be freakin happy if we all just found it.
I do not think that a lot of people, of the younger age, are understanding how big of a problem this bailout is issuing. Aside from DOW going down, the government keeps printing off new bills to pay for all of this debt. Which makes no sense seeing as to how with more money in the system or dollars are becoming worthless pieces of paper. We also have to look at it in the perspective of the government as well. Our Treasurer has not been doing his job when he was elected into that position. There is actually an interview of him with Bill O'Riley on the O'Riley Factor that you should look up. To see my opinion of the bailout, check out my blog. I'm glad to know that I'm not the only person that understands this crisis.