http://www.cnn.com/2008/POLITICS/10/01/paul.qanda/index.html
I honestly don't know people. Could the bailout be a bad thing? Should we allow the market to correct itself? Is this simply a cleansing? Will the bailout simply cause more problems and lead us into a depression?
Glad I'm not responsible for the decision. Too bad it will probably affect me eventually.
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3 comments:
the only way this thing is beneficial is if alleviates the credit crunch start is starting to strangle our system. if banks don't lend to people or each other, then our whole economy comes grinding to a halt. we have to have credit and we have to keep these credit lenders solvent.
now, i don't like ethically. i think it's wrong to lend a hand to a system that systematically cut off it's own head, but a massive credit crunch will extend to you and me. remember that car you want to buy? you'll need a loan for that. so we're sitting in a rocky boat with only a vague idea of where the coast is. the only we know is that it can get worse.
But what if it simply makes it tougher to get a loan for people who have less than stellar credit? Wasn't this mess created because of loans given to people who shouldnt have gotten it in the first place?
There will still be loans but it will be harder to get them. Won't this cause more stability because people with decent credit will be the ones with the debt?
My credit is actually good so I think I will still be able to get a decent loan.
But I could be wrong I suppose. I don't know.
totally agree on people living beyond their means. that's all too common as a means to a livelyhood.
but the worry lies in banks lending to each other. if banks won't lend and small businesses can't get startup loans, where is our economy?
i just feel that at every point we think we have this contained, we find out we don't and the next domino could be worse.
i've been reading so much information and hearing so much crap, that it's hard to really gauge this thing. it's not physical. it's not a wound i can put a bandaid on and watch heal. it's in the air and it's creative math and it's based on pieces of assets that are spread throughout the world.
you already know this but this is somewhat cathartic. i know the "bailout" plan itself is not great, but someone has to propose an alternative that is smarter and i believe it exists. it's next to waffles that are frostbit.
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