So, today the bill for the bailout passed. But we aren’t supposed to call it a bailout, it’s actually “economic relief.” Isn’t that a fancy way of saying socialism?
What I find funny more then anything is just how biased the news can be. I’ve bee watching the stock market all day today. This afternoon around 1:00pm before the vote the stock market was up nearly 300 points. A great day! Well, around 1:30 when the bill was voted on and passed, the stock market tanked, yep, as of 2:05pm which is approx 40 minutes after the bill passed the DOW is up only 76.54 points, there for a while it was down to a 24 point gain. So, we were doing great, then the vote hit and the bill passed and then the stocks tanked… Ummm, I thought this was supposed to turn everything around. Or were we lied to?
Well let’s just see who is reporting what.
Fox News is saying: “Dow Jumps as House Cotes on Bailout Bill.” (See below)
While CNN is saying “stocks trim gains after House vote.” (see below)
So which one is it? Did it go up or did it go down? I guess it depends on which one you listen to. From where I sit, we are down over 200 points from the high which occurred before the house voted to pass the bill.
I supposed it really doesn’t matter. Now our nation is almost another trillion dollars in debt. I just picture that a guy was working at the Federal Reserve bank watching the news and as soon as the bill passed someone called him and said “Print the $100′s!”. I suppose that money has to come from somewhere, why not just print it?
Am I glad the bill passed? Nope, same ol’ crooks are still working in the senate and house that will be overseeing the massive plan. Why does NASCAR need $100 million dollars? Why do children’s wooden arrows need $2 million dollars? These are things in the bill that are nonsense. But hey, we needed it right? Meanwhile I keep paying money into social security and will never see a dime of it but hey, at least kids can have wooden arrows and NASCAR can buy some more fuel.
To say I am disappointed is an understatement. I really thought we had a government that was “of the people, by the people and for the people.” Instead it’s a good ol boy network full of people doing favors for each other and totally forgetting about us from main street.
You know what they kept saying “people can’t get loans to buy cars!” like that was an issue. What you mean if you go in with a good down payment you can’t get a loan? Yes you can. It’s the saps who go in who are upside down in their current loans, buy a new car and finance 130% of the value into a new car. Those are the people that can’t buy a new car. And they shouldn’t be allowed to anyways.
I think this bailout is only putting off the inevitable. Banks will get a huge relief as bad loans are sold to the government. Banks will then start to make the same bad debts perhaps at a slower pace this time and then here in a year or two we’ll see the same dilemma only we will have already spent our trillion dollars. Where is the lesson that these greedy wall street people are supposed to learn? Is the government going to step in and help me pay for my house? Nope, I was responsible so I’ll just get screwed all the way around. I’ll get the chance to pay for my mortgage, and my tax dollars will get to help my neighbor down the road pay for his cause he didn’t do his homework before buying a house.
That’s all I have to say. I could rant on and on, but I’d rather look into turning into a priest or something where I can start earning money and having it be tax free because I’m doing it as a church or member of clergy. I doubt I can figure it out but it’s a thought. I hate to pay taxes and see the money wasted.
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