“1. A man may, if he knows not how to save as he gets, keep his nose all his life to the grindstone, and die not worth a groat at last.
2. Beware of little expenses; a small leak will sink a great ship.
3. Buy what thou hast no need of, and before long thou shalt sell thy necessaries.
4. A fat kitchen makes a lean will.
5. Many estates are spent in the getting, Since women for tea forsook spinning and knitting, And men for punch forsook hewing and splitting.
6. Think of saving as well as of getting: the Indies have not made Spain rich, because her outgoes are greater than her incomes.
7. Women and wine, game and deceit, Make the wealth small, and the wants great.
8. What maintains one vice, would bring up two children.
9. Who dainties love, shall beggars prove.
10. Fools make Feasts, and wise men eat them.”
1776 where art thou? Many Americans are yearning for a return to a time when our economic prowess was based on our ability to spend and invest wisely. Not what we have now which is Wall Street turned into a casino for the connected and wealthy. The ability for information to travel so fast and people to be informed is fantastic. The fact that many of you contacted your Representatives shows that we are in a new era of politics. It was only a matter of time before the politicians listened to the will of the people. This was one of those rare moments.
They’ll try again to jam something down the throat of the public but hopefully they scratch this bill and start from scratch. Maybe, they’ll even explain to us why they needed $700 billion. Let us first look at the current price tag:
11 comments:
Very good post. This bailout stinks like last week's tuna casserole.
Listen up!!! Failing is GOOD THING. It forces innovation and reinvention, and REFORM! Both of our presidential candidates and pushing reform, reform, reform...but they're both in favor of this bailout??? It looks like two people are running, but so are four faces.
I suggest they read John Maxwell's "Failing Forward" before they decide that propping up ineffective institutions is a good thing.
We can not afford to weaken the U.S. dollar any further. This bail-out will destroy the value of the dollar even more. The world is real close to abandoning the American dollar and that would be the most destructive thing that has ever happened to our economy.
The rich are losing money, WHA WHA.
They still don't know what it's like to wonder what they are going to eat tonight.
Finally something that will unite the everyday Joe or jane citizen.
I have a problem with Paulson (formerly Goldman Sachs) sp*, being the one asking for the bailout to begin with. Isn't that a conflict of interest in some way? Aren't these his dear friends that he wants bailed out?
Something's real fishy and it's really starting to reek!
Oh yea, the bail out stinks till you lose your job. Checked your 401K lately?
I was never foolish enough to think they would have the money anyway.
What 401K?
I never trusted a 401K to be there when I needed it and therefore have not signed up for one.
Just like Social Security. I've lived my life knowing it probably wouldn't be there when I was eligible for it, so why count on something all your life for nothing?
My employer does not do the match on 401K (small employer) so I chose to put my savings in other accounts which I knew were safe.
And I still say...don't bail them out...hope it helps them learn from their greed.
That's part of the problem. Someone only thinking about themselves.
Hope your 401K recovers but there's more to it that your personal savings and what kind of hell it will play on many other financial areas we have to be concerned with.
I agree people learn better from their mistakes, and this is a whopper. I've always told people that I know that play the Stocks and Bonds that their stock was only worth the paper it was printed on until it's time to sell.
Heck those stock shares may be better served in a fire to keep warm this winter.
This bailout will cost taxpayers big time, all of our tax money going into this bailout, only gives Americans less money to spend at local retail stores and they will have to make cuts to their own personal budgets. Cuts in utilities, healthcare, retail and a lot less meals out to eat.
I see this bailout as a ripple effect that will create another crisis in itself.
Maybe I should change that "Ripple" to a "Tsunami."
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