If they're all wrong. That means I'm right.
By the way, does anyone understand exactly why the stock market affects the economy on down to those of us who sometimes grow our own food? Would putting a lot of money into banks, etc. really help the country, or is it just a band-aid that will be bad for our children in the future? Where is the money coming from? I'd really like to know.
I saw on the news that Citibank is buying out a bank and taking on their debts and in the process taking pay cuts. Cool.
Anyway, I would love some opinions, and more especially, more knowledge on this if anyone knows where to direct me (you know, some really basics to start with, like a picture that shows how these things connect to affect the country - including the little guy).
4 comments:
I also would love to know and understand more about this. I've been listening to the news the past few weeks and just been frustrated. I even thought about writing a similar post to my own blog, but haven't had a chance. From what I understand, the government wants to give Wall Street a bunch of money to save their butts. But WE pay the government (that's our taxes) so all I can figure is that it would be us (and our kids?) paying for their risky business. ? I could be wrong. I, too, think some kind of visual/pictorial representaion might aid in my understanding.
So come on, commenters out there, a little help?
You got me but I bet Mark would know how it works.
Yeah, too hard to explain even if I did know what was going on. I am certain that we would be paying for it with taxes. I think it's largely related to the stock market crash, which definitely effects us...my 401K went down by 31%. that's about all I got, though.
In short, the government is going to save (or so that is their pitch)Wall Street's a** as well as those of a bunch of overpaid, overated, and totally ineffective CEOs who are nothing more than greedy SOB's who take care of number one. The bailout will fail because we are already buried indebt. It does nothiong for us, not a da** thing. It is a crock and our children, grandchildren, great-grandchildren, and beyond, will be paying for it, and all the other mistakes this incompetent administration has brought upon our country.
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