Sunday, October 5, 2008

Somebody PLEASE Explain It To Me

Somebody PLEASE Explain It To Me
Posted 10/4/2008 8:27 AM EDT on

Now that the $700 + BILLION Bailout bill has passed, can someone please explain it to me. The only thing I've heard all week in the controlled news (TV, newspapers, Time and Newsweek), is that if the bill does not pass , things will be much worse. The other mantras currently being regurgitated are " BAILOUT=Easy Loans" for Joe Schmoe average home owner and "We need to ease the credit market."
Says Who?, The politicians who don't understand (BECAUSE THEY DON'T READ) what they are voting on? or the rich corporate thieves who have already stolen your money once and will now benefit again? Why should we ease the money markets making loans easier to get? Isn't that what got us in trouble to begin with?

Someone please explain to me the correlation between the government adding another TRILLION DOLLARS onto our national debt and my ability to get an auto loan. Why would the money markets loosen their lending standards because we borrow another trillion that we can't pay back. I have always had to prove to the bank that I have the ability to pay back a loan as a PRECONDITION of obtaining that loan. How does the BAILOUT change that?

The government does not have the money for the bailout, they have to borrow it. What is the difference who owes the money?, neither the government nor these "failed" corporations have any intention of paying it back, primarily because neither has the ABILITY to pay it back. If you already owe $8 TRILLION, then you borrow another $ 1Trillion, are you better or worse off financialy than you were?

Why would these money markets be less likely to lend me money if there was no bailout?

The truth is that even the financial experts don't understand it nor can than they explain it. They didn't even attempt to explain it. There is no "formula" to explain the market because THEY MAKE IT UP AS THEY GO ALONG

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