The more I think about it the more I am against this bailout. Maybe that is the point, maybe that is why there are some solid holdouts in Congress.
Sure as shit I don't want the price of my house to fall any further and we could all use the credit markets staying open so we can relocate homes, buy cars and go about our lives.
I doubt that the worst case scenerios are really going to last as long as they say. I'm also starting to think that perhaps it is time to let the Markets of the western world correct themselves. Time for a gas consuming society to see the windfalls of its decisions. See I think this goes back to the Bush administrations decision to ignore the Kyoto Protocol.
Where would we be now if are economy had been allowed a natural slow down while we shifted to smarter fuels and ramped up education in science and engineering eight years ago? How much better off would we be? Eight years is enough time for a new college student to come out on the other side with a masters in engineering. It is enough time to create stronger science teachers, once sophmores in highschool themselves, now two years into an evolved curriculum for middleschoolers. I think eight years is enough time to go to war and yet find ourselves in a place where we don't need to invested in the interestes of the Arab states.
Eight years for our economy to evole, for our cars to become cleaner and greener, our housing to become more efficient. Time we could have slowed the outrageuos growth, the bubble.
Now the goverment is really overinvested in proping up a imaginary ecomony, based on feelings and perception rather than real hard core value. With our consuming ways, larger homes, larger cars we are a weaker nation. We've got toys but we haven't invested properly in brains and progress.
I hate to say it but I totally agree with Ron Paul on this. We should let this play out, let the market fix itself. We need to let supply and demand regulate the markets.
Lets hope we see fewer ads for perscription drugs and more ads for seeds and soil. Lets hope we see fewer ads for flat screen TVs and More ads for advancing our educations. Fewer ads for the next reality show and more ads for greener lightbulbs and solar panels. No more ads for Mc Cain, how about ads for town meetings and action committees. More sidewalks and bycicles, less gastric bypass surgeries.
Also let me say I think we definately need to let the financial institutions that became profiteer, dealing in non-reality fail. They could probably save themselve if they cut the five top paying positions in their companies completely. Let those buggers loose their second and third homes before stripping the average of tax benefits and programs for years to come.
See also http://www.time.com/time/business/article/0,8599,1845209,00.html?cnn=yes