NO, bailing them out and borrowing and printing money to pay for it all is going to do too much damage. How many banks are you willing to pay for out of your pocket?
I am seldom consulted on this matter.
But I expect the government will bail out fifteen publically traded banks, just like they did that bank in CA yesterday and Freddie and Fanny today.
How much are you willing to pay for a loaf of bread? A gallon of gas? When does the madness finally stop? There has to be a point where we say no more, because we simply can not afford it.
Now you beginning to understand why I suggest a massive bout of inflation to offset the massive amount of infaltion we're paying for by bailing out the banks.
I'm suggesting we flood the market with greenbacks such that people's existing mortgages are insignificant expenses.
Infuse the system with dough, pay off our extrernal debts with fiat dollars.
We'll crash out credit, of course, but when you're broke, crashing you credit is meaningless.
You say we owe these rich bastards $9,000,000,000,000?
I blow my nose in their general direction
Inflate the dollar's ubiquity until that's the price of a decent lunch.
[/quoteThe government has been such a shining example for the rest of consumers. It's why idiots take out new debt to pay off old debt. A never ending vicious cycle of lunacy.[/quote]
You know what they say, Paulitics: The compound interest is mightier than the sword.
The snake that eats itself.
Government is merely a handmaiden to the beast.