Sep. 19, 2008 - You Have the Right to Be Happy Part 2
Several months back after the bail out of Bear Sterns I wrote a post about the right to be happy. I was very concerned about the bail out of homeowners, financial Institution and rebate checks. I hadn't seen anything then. Last weekend we started hearing about a couple financial institutions in trouble with many emergency meetings taking place. Many people knew this was leading to a nose dive on wall street. We saw this Monday and Wednesday and Thursday was going to be dire as the largest insurance company in the U.S was going to fail. This would of cause a crash not seen in almost eighty years. Yes, this is real guys. Anyways Wednesday night we started hearing about government intervention as was done two weeks ago when the national debt doubled over the weekend to help Fannie and Freddie. Thursday and Friday we saw a rally on Wallstreet. Why? The Government added liquidity. GREAT! TRIPPLING THE NATIONAL DEBT OVERNIGHT! WOW! Now I know what was going to happen if we did not do that but what's next. The U.S owns a insurance company and two mortage lenders. They stopped a crash but at what price? This is pure socialism; however neccessary socialism in this case. Once we let socialism in because of our lack of responsibilty, their will be more. The majority of this crisis was due to personal debt(bad mortgages. If we can't handle things the government will step in for us but we must remember something. A government who can do everything for us, can take everything from us.
Comments
Sep. 21, 2008 - Untitled Comment
Posted by kimalita
Wow- such a heavy post. I am so not that much of a deep thinking unless it pertains to the Lord. I guess I just keep all that other stuff at bay.....
But you always make me think with your deep thinking posts!
Hope your weekend has been good. Great job getting science-y ( totally not a word :-P ) with your kids!!
Sep. 22, 2008 - Untitled Comment
Posted by MasonMoments
I love when you post this kind of stuff! John tries to keep me informed of what is going on but I really like reading your thoughts.
We have been trying to have the kids follow the election with us little bit but not as much as I had thought to so thanks for the reminder. I'll have to pick up a few books from the library. Your game sounds interesting too. -- Amy
