Some *gloom and doom* types claim that if congress does not enact a bail out, we are heading for a Great Recession or the Great Depression II. Thus they urge fast action.
Another Great Depression is not something I would care to live through--but how likely is it to happen? The fact that many in congress are willing to move slowly on this suggests there is not agreement on the need for haste or how bad things could get if no bail out occurs.
I'm of two minds. I don't like the idea of a bailout, because it does not hold people accountable for their bad decisions. At the same time, I don't want my principles to result in wide-spread suffering (or bite me in the rear end!).
So my question is: if no bail out was authorized, how do you see the US and world economy dealing with instability over the next 18 months or so?
My fear is that the bail out would not avert a recession. So we end up rewarding the rich gamblers, devalue the dollar and the economy comes crashing down anyway.
Honestly, I am not educated enough to really understand what is going on. My gut just tells me that none of the fat cats in politics have my best interest at heart.
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Phooy! Its all a sham I tells ya! All George W Bush has to do is come clean and admit that Capitalism and the Market of "Supply and Demand" are failed concepts and that the USA wishes to Surrender to Canada.
All your beverages will then be Maple Syrup based Alcohols, Soft drinks and Icecream toppings for your thickshakes. Huzza!