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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (87638)	10/3/2008 12:06:19 PM
From: koan	1 Recommendation Read Replies (2) \| Respond to of 116555

It seems pretty clear to me we are going into a depression.

To: mishedlo who wrote (87638)	10/4/2008 8:12:19 PM
From: Sunny Jim	3 Recommendations Read Replies (1) \| Respond to of 116555

<<Before we throw $700 billion down a black hole, someone ought to be asking how it will solve anything. Unfortunately the urge is for Congress to "do something quickly" because of the Bush, Bernanke, and Paulson statements scaring people to death with impending economic mushroom cloud warnings.>> Apparently the American people don't see the parallel with this bailout plan and the Iraq war. Recall how we were presented with all this incontrovertible evidence on how we had to go to war with Iraq to save the world. Now we are presented with the same sort of BS about how the financial world will collapse if we don't spend $700 billion of taxpayer money to bail out banks that made some stupid investments in stuff that no intelligent investor would have put a dime in. Paulson is no dummy, he observed that you can use Bush to push an agenda much the same way that Rumsfeld and Cheney did. However in this case he realized that you had to rush the Congress in the last two weeks of their term before going home to run for re-election. It's quite likely that this act of Congress will go down as one of the worst in history. When it takes $150 billion of sweeteners to pass a $700 billion bailout bill, it says a lot about what a mess this country is in. Just my opinion.