I really was trying to avoid ever talking about politics on this blog, cause like religion it totally polarizes people.. in fact your not suppose to talk about either of those things in public.. I would much rather talk about beer, babes, soccer, traveling, whatever.. But now with only 40 days till the US Presidential Election and the so called "greatest financial crisis to hit us ever" in front of us, the news coverage of this event usually has me fuming mad.
There is no way the $700 Billion dollar bailout is going to work, first and foremost the gov't has no idea what to price toxic shitty subprime debt at. The last 2 companies to unload their debt including Merrill Lynch sold it at 20 to 30 cents on the dollar. The banks are still giving it a value of 60 cents on the dollar. The government is going to overpay and the assets will never go up in value. I mean it was just a month ago that Bernanke and Paulson were all saying "everything is fine.. the fundamentals are strong.. so and so was too big to fail but its all good now.." Yet today its all about the politics of fear.. the Iraq War was entered cause of the fear of a mushroom cloud over the USA.. now its the fear of going back to the stone age.. Politics of Fear I'm done with you..
It funny but I'm with the GOP Republicans as to no way to this bailout, but their leader John McCain is so out of it, its not funny anymore. I think the only thoughts in the mans head are the stump speech and lines he has memorized, not an original thought, not an original idea going on up there.. This interview below with Brian Williams below is an example.. when asked the clear question
Brian: Where does that money come from, can it be printed.. are we talking about a hike in takes..
McCain: If we restore our economy and cut the out of control spending, I think we'll be ok. But if we dont do this, the consequences of failure are emornous. So if we get our economy back on track and grow the economy and keep peoples taxes low and cut the out of control spending... Blah Blah Blah..
I screamed at the TV.. ANSWER THE EFFIN QUESTION YOU #$%!*. Oh and don't even get me started on Palin answering about how since Alaska is close its foreign policy experience.. Lady I've been to Russia, I have more experience than you do living next to it...
Yes they are going to print the money, they are working overtime right now at 14th & C Streets SW Washington DC. For those who have never been that is the Bureau of Engraving and Printing, actually one of the best tours in all of DC.. But that is where they print the US Currency, and trust me they are working the prints overtime for the next plenty of years to get all that money printed and shipped off to the Fed.. Maybe tomorrow i'll work on a calculation of just how tall a stack of $100 bill uncut sheets would have to be for 700 billion worth.
Ok that venting felt good... now back to regularly schedule talk about beer, babes, travel and soccer.. i promise