May 09, 2009
What would be a better way to spend $800 billion than giving it to wall street fat cats who screwed up?
Posted by: admin : Category: Polls & Surveys
The Notorious P.I.G asked:
They burnt our Thankgiing turkey and are now demanding to come over our house and cook Christmas dinner without even taking cooking lessons.
They burnt our Thankgiing turkey and are now demanding to come over our house and cook Christmas dinner without even taking cooking lessons.
I say we should invest that $800 Billion (it’s more really) in teh Space program, let’s colonize space, that would spark invention, and drive the economy to heights never imagined.
I say we spend some of that money on Alternative fuel innovation and implementation, that would get us off the foreign oil, there are hundreds of fuels we can use other than gasoline and diesel.
Any other Ideas?
May 9th, 2009 at 9:36 am
I like the idea of alternative fuels. It would be nice to skim off a bit and put it into education.
May 12th, 2009 at 11:41 am
The bailout package is a psychological move as much, if not more so, than it is a financial one. The market is driven more by emotion than fundamentals, and history reflects that. Unfortunately, we have shown we don’t always learn from our past.
My personal opinion is that AIG, among others, had their chance to succeed or fail, based on the “rules” already established. They made bad decisions, and failed. This is Capitalism 101. The bailout is foolish because it is on a par with giving a heroin addict more heroin. These people have shown that they are irresponsible with money, so the government wants to give them MORE of it?!?
In no way do I believe their failure will bring about the ultimate implosion of our economy. Economic patterns rise and fall. I hate to use the term “roller coaster”, but that’s really what it is. It just so happens that the roller coaster is especially erratic right now. If you have money, NOW is the time to buy. Money is made when there is blood in the streets, even if the blood is your own.
If you’re willing to put money in 5 years or more, you’ll do well. I heard someone say yesterday that if you put $100,000 in the market right now, you’ll see it become $70K…but if you’re patient, you’ll see it become $210,000. There is no 10-year period where the market hasn’t outperformed itself. There’s no reason to believe that won’t hold true now.