tristan.oneil

I know in a recent post, in fact the last post, that I said I would try to limit my conversation to topics related to myself. Well, I am going to have to veer slightly off that course for the time being. I would like to talk to you all about the current state of our economy. As you are probably aware by now, today a $700 billion bailout package was rejected in the house of representatives. Immediately after the bailout was rejected the Dow fell around 600 points. I have talked to a lot of people about this and a lot of people don't quite understand how the bailout was supposed to help us. Well you see the bailout would have $700 billion new dollars printed up by the federal reserve. This money would be given mostly as loans to large banks who have made some poor decisions in the past few years to try to save them from going under. If we prevent these large banking institutions from going under then we are saving a lot of people from loosing their jobs. However there are somethings that the government doesn't seem to see, one, by printing up $700 billion you devaluing the dollar even more than it is now in this arbitrary economic system we have, two, you are bailing out corrupt companies where best business practices are far from their minds, three, you are making the American public gamble their tax dollars in a screw up not caused by them.

These are just my thoughts on the matter. I may be wrong, but this is how I feel so far. I feel as though either way you go about it we are gambling with our economy. At this point it is hard to fix what has gone wrong. I suggest everyone get ready for some hard times ahead. Please leave a comment if you have anything to add.