Tuesday, September 23, 2008

The bailout

What the hell is the matter with Congress ? This financial crisis requires immediate action. The Democrats are filling this $700 Billion bill with all kinds of add-ons and slowing the process. In order to speed things up, Bush has already given into their demands and they continue to add more things (sounds like the arab tactics with the Palestinian negotiations).
What the Democrats are really trying to do is nationalize the financial industry. We all know that $700 Billion isn't enough; over a $Trillion is needed (short term).
Should this plan fail (and its only a bandaid to slow down the financial fall), the world plunges into a depression, the magnitude of which you can't imagine. 1929 will look like a quicky dress rehearsal.
All I can say at this time is to stash as much cash as you can under your mattress, buy bags of silver dimes and Canadian gold Maple leafs. Of course, let's hope for the best but prepare for the worst.
Don't walk; RUN from any bank you've got savings, CDs, IRAs or any other money tie up. Every bank (yes even the strongest and most prudent) is so overextended and the FDIC has no money, that you may lose everything.
I "hope" that I'm wrong...experience tells me otherwise.

0 Comments:

Post a Comment

<< Home