Posted by IndianaRed on October 06, 2008 at 04:50:27 from (72.63.96.242):
In Reply to: OT Kinda--Brit Economy posted by noncompos on October 05, 2008 at 11:04:33:
Oh this thing isn't over, not by a long shot. No one ever said that the bailout bill was going to fix the problem, at least not anyone that I ever heard and I pay pretty close attention. It was supposed to "ease the credit crunch", but that doesn't mean it's going to do anything for the economy overall.
Yes, markets all over the world were down significantly today, in Asia and Europe.
This is why I was against the bailout bill. It wasn't going to fix anything, it shoulders our children and grandchildren with our debt, and I don't believe in socialism, which this is in no uncertain terms. We are heading down the slide and picking up speed now. Amazing to me that people can't see it. When you add in the AIG bailout and others, we're well over a trllion dollars of governement intrusion into the markets. We are desensitized to these big numbers we throw around these days. Over a TRILLION dollars of taxpayers money wasted. Let those firms fail, let us take our medecine and get it fixed, not pass it on to future generations that didn't cause it.
Buy some gold and hang on to your shorts. If you live in an urban area, I'd be ready to leave. If it gets as bad as many say it will, it won't be safe there. At least during the Great Depression people still knew how to get by without much and could do for themselves to a moderate degree. People today aren't nearly so able to do so, just look at Katrina.
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