Socialism cannot compete!
206 Comments

Oct 13 06:22 PM

THANK YOU!! I've been saying this for the last few weeks, as the bailout was debated, passed, and then as we've watched the market dive-bomb last week...this notion of needing to grease the wheels for credit is *completely* backwards!! Too much credit is what got us here...it's time to deleverage, and that has to start at the grassroots...those who are trying to pay their mortgages and account for 2/3 of GDP!! Middle-America has been attempting to do so with the overhead of 30-40% federal taxes...and now, the misguided bailout will cause an increase in that, as well as *inflation*!!

Not the answer. Deleverage by *massive* spending cuts, accompanied by *massive* tax cuts. They claim this is not the answer...but that's because lending is how banks make money -- and the goal here is not to make banks money, but to get Americans out of debt so they can begin spending money that is free-and-clear...truly discretionary...rather than spending borrowed money!! Then and only then, have we bottomed!!

The root of the problem is that we ever got into credit-based living to begin with: the banking industry is much bigger than it ever should have been, because we should not have ever *needed* to be borrowing...at least anywhere near the extent that we do. Why do we just take for granted that in order to own a home, we will need a mortgage?? My grandparents were poor: lower-middle class at best, but they worked and saved and bought their (very small) house outright. It is hardly possible to do so any longer. I blame the humongous growth of taxation and the bloated, corpulent behemoth that we call the federal government. And now they want to do us one better, and have the wise among us who didn't buy what we couldn't afford help pay the difference in the mortgages of those facing foreclosure!!

Enough. End the bailout. Kill the Fed. Cut the government to the core. They clearly don't know how to manage an economy. Just give us *OUR* money back -- I'm willing to bet we know what to do with it!!