Showing posts with label 700 billion dollar bailout. Show all posts
Showing posts with label 700 billion dollar bailout. Show all posts

Tuesday, September 23, 2008

700 Billion Dollar Bailout?

Boy, President Bush really does wanna go out with a "BANG"... a 700 billion dollar bailout? wtf? Who is to say by NOT doing this that it will get worse? They are trying to feed us this crap about if they DON'T do this that the global financial system will pretty much self destruct. In my opinion: NOT true.

In reality, congress has to decide between:
  • Voting NO and allowing the free market to liquidate bad debts and unviable companies through allowing market prices to prevail; or
  • Voting YES and empowering the Treasury Department and Federal Reserve to provide bailouts for troubled financial institutions with $700 billion (more likely trillions of dollars) created out of thin air, leading to rampant inflation of the dollar at best and the destruction of the dollar at worst.

Here is a fabulous video to watch: Ron Paul a few days ago on CNN -