Both Wallstreet and banking got massive bailouts today, although they are called loans and "help for families." When in 1998 the Long Term Capital Management (LTCM) speculators bet wrong and lost big, the US government stepped in to bail LTCM out. In economics it is called "moral hazard."
At that moment all thieves, speculators, criminals and good people that just could not help themselves understood you could steal from taxpayers and the government would protect you.
A very small group is protecting themselves by causing you to work for less, forcing you to cut back on quality and quantity of everything you pay for, but mostly you and your children will do with much less opportunity.
It does'nt matter who you vote for (except enjoying a protest vote) but it is possible to run parallel to the system, that is be self-employed.
Wednesday, July 30, 2008
Bush Signs Massive Bailouts
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