Friday, October 03, 2008

Bailout - hard to know

Just a guess. Hard to know. But here goes.

This little blogger held that Congress was right the first time to vote 'no' to the bailout.

A little bit of politicking and bullying in Washington and shazzam the vote is reversed a few days later.

This little blogger remains stuck on the notion that the first 'no' should have been the call again. No, no, no to bailing out debt with debt in a falling GDP. 

The markets looked modestly north at the time of the 'yes' vote today and then bless my cotton socks if they didn't head south before the close.

The question to which we will never know the answer to is; how much worse would it have been if the vote had been 'no' on the this Friday October 3, 2008. This little blogger's guess is that the result would have been roughly the same. In other words the US congress has just tossed another $700 billion into the socialist abyss.

Well, blog me to tears!!! How many decades or hundreds of years will it take to learn the basics.


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