tag:blogger.com,1999:blog-3882537619389851611.post3172319498296906351..comments2023-11-03T05:09:47.246-07:00Comments on Ramblings ~: Breaking the back of the working classFranhttp://www.blogger.com/profile/14198689517878201943noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3882537619389851611.post-35230568657304236982008-10-06T04:57:00.000-07:002008-10-06T04:57:00.000-07:00What's making the economy sick is the ailing c...What's making the economy sick is the ailing capital market. This isn't rocket science.<BR/><BR/>If George Bush and the Congress were really interested in Main Street and not Wall Street criminals, they would've bought the bad mortgage paper and taken it off the books of the banks and S&Ls. This would've opened up new capital streams to lend in the forms of auto and home loans.<BR/><BR/>I know there are lots of people out there who have been duped by Bush's economic propaganda team into thinking the bailout will help you and me. Trust me, it won't.<BR/><BR/>In fact, the Asian and European markets all opened low today and credit in the USA is just as tight as it was a week ago.<BR/><BR/>Until the bad mortgage paper is dealt with and the housing market begins to recover, America's economy will be in the doldrums.Christopherhttps://www.blogger.com/profile/15788931352232874850noreply@blogger.comtag:blogger.com,1999:blog-3882537619389851611.post-65650588385049600452008-10-05T20:01:00.000-07:002008-10-05T20:01:00.000-07:00Yes, my brother who is a loan officer, said the sa...Yes, my brother who is a loan officer, said the same as Christopher. He doesn't believe this will help anything as far as WE are concerned.Maryhttps://www.blogger.com/profile/09454344516994289843noreply@blogger.comtag:blogger.com,1999:blog-3882537619389851611.post-19069996897736053572008-10-05T06:57:00.000-07:002008-10-05T06:57:00.000-07:00Christopher~ I think you may be right. The Decider...Christopher~ I think you may be right. The Decider was quick to pass the $700 billion slush fund & tell us this is just a small chink in the economic situation armor. Will banks & the mortgage loan businesses continue to implode, as we lose more jobs, and businesses go under in this ignored economy?<BR/>Well, at least we are winning the war. (snark).Franhttps://www.blogger.com/profile/14198689517878201943noreply@blogger.comtag:blogger.com,1999:blog-3882537619389851611.post-47248631800060097802008-10-05T06:12:00.000-07:002008-10-05T06:12:00.000-07:00The $700 billion dollar bailout of Bush's Wall Str...The $700 billion dollar bailout of Bush's Wall Street supporters will do nothing; zip; nada, to help the credit crunch.<BR/><BR/>Anyone who thinks bailing out white collar, corporate criminals is good for Main Street doesn't have a clue about the language in the bill or how the economy works.<BR/><BR/>Trust me. In 90 days, the "Street" will still be shedding jobs, credit will be hard to get and business will be disappearing. Meanwhile, the debt ceiling will be raised to $11.3 trillion -- an amount so large that generations will be paying for it 100 years into the future.Christopherhttps://www.blogger.com/profile/15788931352232874850noreply@blogger.com