Tuesday, March 18, 2008

it's time

With the impending monetary problems in this nation the federal government needs to take a step back and allow for businesses to fail, No matter what the outcome might be. We as a nation have to be educated to live within our means and this goes for the individual, the businesses and the government, especially the government. It is bad enough that I have my own personal debt that I have to manage, but through time I have others managing debt for me which compounds my debt exponentially.

On an earlier blog I wrote about Ronald Reagan's administration bailing out Chrysler and Harley Davidson with taxpayer money which just compounded our national debt but there are others as well. The S & L scandal cost the taxpayers millions while the bailout of Lockheed back in 1971 done much the same. We now have the multi million dollar bailout of a government entity known as Fannie Mae and Freddie Mac because loans were given to individuals that could barely afford them.

Government involvement back in 1929 took a depression into what we now know as the Great Depression. Banks should have sought out mergers and buyouts instead of government bailouts.
Are we headed for another Great Depression, all I can do is suggest that you stock up on cheap food now as the cost are going to sky rocket in the near future. We haven't seen the worst of it and government on all levels has played a HUGE impact on what is going to occur.

1 comment:

Busplunge said...

Just found this blog, glad to know I ain't the only one who thinks like this.