The Bailout

Apparently the Orlando Sentinel believes that the bailout failed because too many of the politicians were too concerned about getting reelected because in their eyes, it's the only thing that can save the economy. Of course, they never bother trying to explain how the bailout will save the economy. My guess is the one guy left working the financial news at that most shitty of papers doesn't have the time to get into that. Side rant: I grew up in Englewood, Florida. We had a population of about 35,000 AND we had two newspapers. Both of which were regularly bigger than the Sentinel during the week. Keep in mind, the Sentinel is for a metropolitan area of over 2 million. Amazing! Anywho, so the Sentinel is crying and states "They let down their constituents and their country." Well, their constituents overwhelmingly disapproved of the bailout so for once the politicians were listening. Bravo! Sure, if the bailout somehow guaranteed that banks would start lending money (it doesn't) maybe it would pass. But wake up, sheeple! All this thing will do is cause a rally on wall street which won't do a damn thing for most folks and will just make everything appear better for a little while. People fucked up and were greedy with money that doesn't exist. If we are going to put $700 billion in to anything it should go towards establishing industry like we once had. Hell, we pretty much gave Ford, GM, and Chrysler $25 billion today. Unfortunately we didn't tell them that they could only get the money if they built their cars in this country. Pumping money into factories in South America isn't going to help the U.S. much. But back to the bailout, the Sentinel sees a light at the end of the tunnel. They think the Democrass and Repugnants (sorry, I used to read a lot of libertarian websites) can find some common ground since both McCain and Obama believe the FDIC should insure up to $250,000. From what I can tell, that will just scare people even more. What those rich bastards don't realize is that most people do not have over $100,000 in their accounts. What made them take their money out of Wamu was all the news stories about how the bank was going under so every bumpkin thinks "Aw hell! The guvmint can't afford to pay $100,000 to the bajillion account holders. That's like a zillion dollars!" So the dumbasses cause a run on the bank. Now if they hear that the FDIC will back $250,000 they will know that that's even zillions more and they'll panic sooner. Twatever. Until we go back to being a producing nation and not an over-consuming one, we will be fucked. Just suck it up. We had a good run. Oh, and if you're gonna invest in anything go with wheelbarrows. They'll be our wallets soon.