The Bailout will not solve our problems!!!

[Citizen Kang]

The problem is not about banks not having enough money to lend to keep the economy going. There's plenty of money out there. The problem is banks and large corporations are HOARDING money and refusing to lend because they don't trust that other banks, corporations and people have the ability to repay. This is not just Wall Street and American banks who are refusing to lend to us, its foreign banks, corporations and governments as well.

Simply put, this is an issue of trust. No one is going to give you a loan if they think your books are cooked and can't pay it back.

What all you pro-bailout folks out there don't want to recognize is that EVERYONE in this country has been living beyond their means, from Joe Six-pack to the Federal Government. And guess what? The rest of the world will not continue to finance our excesses because they are realizing that they aren't going to get their money back.

So instead of making the sacrifices that need to be made that require us to live within our means, you pro-bailout folks would rather go FURTHER into debt, which only serves to POSTPONE the day of reckoning and make it even worse. Passing this bailout bill will delay the inevitable and in the mean time create massive hyperinflation, devaluing the dollar, lessening your purchasing power and ultimately DO NOTHING to solve the underlying problem of a society that continues to live beyond its means.

No one wants to see our country and economy to burn to the ground. Be we have to sober up and get rid of our addiction to debt and inflation. We need to do it before its too late. This bailout bill will only serve to seal the fate of our doom. We need to create a system where US banks and Foreign banks and governments trust they they will get paid back when the make a loan. Then, and only then, will we have taken the first step to solving our problems.

[mike_c]

1. one of the really sad parts is that NEITHER most dems or most repubs get it....

The dems argue about who the bailout should help most, the repubs argue about Reaganesque free market voodoo. Few of the naysayers in Washington are facing the truth, or ever will, I'm afraid.

[Citizen Kang]

2. its not politically popular

to tell the American people to put down the crack pipe that is/was mortgage refis, HELOCs, credit cards. And its also impossible to tell Americans their government needs to raise taxes or reduce popular programs in order to stay solvent.

[lib2DaBone]

3. Today the feds pumped $650 Billion into the economy....

if this didn't keep Wall Street from tanking.. what good would another $700 Billion Do? Estimates are that they will need at least $5 Trillion to even make a dent in this crisis. Aren't we here at DU splitting hairs.. arguing about nothing?


http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3518671

[avaistheone1]

4. Yes, it is a trust issue.