The bailout thing better work

Be prepared to be disappointed. It was doomed from the start, which is just one of the reasons for being against it.

The rate was unchanged at 6.1 percent but that masked the real damage to the economy -- a loss of 159,000 jobs last month, the most in five years and far more than analysts expected. It was the ninth straight month that the economy shed jobs, bringing the total for the year to 760,000, a number the Associated Press called "staggering."

Which is why those of us in the real world know that 6.1% is a lie. The real US unemployment rate is already more than 13%. Wall Street is finally catching up to what Main Street has been experiencing since 2006.

The lawmakers, especially the 133 Republicans who provided the margin of defeat, were quickly chastened by a record plunge in the stock market and the evaporation of over a trillion in paper wealth.

Paper wealth, which is not real, and would have come down without the bailout anyhow, because it was not real and not based on anything in reality. In fact, announcing and working on a bailout probably made the market more volatile and worsened the situation as everyone in the world was made aware of the issue. There were no more suckers overseas to buy up the junk.

And their constituents also came to see the connection between the bailout and their own ability to get loans for homes, college tuition, cars, small businesses and consumer purchases. The bailout that had gone down, 208 to 225, passed easily, 263 to 171.

I bought a van September 3rd, 2008. At the time, they were not accepting anyone for financing with a beacon score under 700. We had to put 30% down in the form of a trade-in. We were approved in 5 seconds. Those of us that have maintained our credit will still get financing. This is how it should be to have a real, sound, credit market and not the house of cards we currently have.

We bought a used 2006 model and saved about $15,000 versus new. Be practical and stay within your means. Try to keep up with the Jones and you will follow them into the poor house.

No, this was scare tactics to try to get Main Street to comply with a directive from the top to take from the Treasury what they can and stick our kids with the bill. It was designed to create reasonable doubt in the 85% that are against this bill and make them think they were alone in opposing it. 85%, a CLEAR MANDATE against, not like Bush's 51% slight majority he claimed was a mandate.

But I don't have to tell Dale, since he was a part of that market propaganda to try to get Americans to accept this bill as being in their best interest.

President Bush made a brief appearance to say he would sign quickly the bill. But it is already late in the game. If the country is not already in a recession, it certainly seems headed there. Some economists see unemployment at 7 percent or above deep into next year, and if the bailout doesn't work the government has little left in its arsenal.

Recession is a given. Even though the stock market's technical definition has not been met, we have been in a jobs and real wage recession since 2006. It's just that none of the politicians and mass media have the guts to call it what it is. It's about to bottom out, possibly by 2010. What's a 4 year recession equal? I'd call it a depression, but again that's a bad word to media, Wall Street, and politicians, so we'll never hear it from them.

And Dale, this next to last paragraph seems like you are just trying to cover your own butt since you claimed this plan was the least bad alternative.

Don't ya hate it when people use their memory and hold you to your propaganda?

It isn't working yet!

According to this MSNBC story our own market and virtually all foreign markets are down again.

The laws of the market, like those of nature, are inexorable and we try to circumvent them at our peril.

Most sincerely,

T. J. Flapsaddle

The blame game is how criminals are caught and punished.

Look back.

Place blame.

FREE AMERICA

REVOLUTIONARY (DIRECT) DEMOCRACY

It's not going to work , anyone who knows history understands that . This is almost a rerun of 1929 and 1931 . In 31 Hoover tried the same thing , he attempted to stablize the markets by toploading the financial system . It didn't work then and it won't work now . Bailing out the super wealthy solves nothing . It's like trying to build a bridge starting in the middle , you have to build a solid base first and that means shoring up the middle class , FDR understood that . They need to force lenders to rewrite these preditory loans , eleminate the interest rate hikes and ballon payments . reevaluate evaluations . That way people can stay in their homes and start making payments again , that would loosen up the credit markets . But don't hold your breath , these bastards are much moe interested in bailing out their billionaire buddies and stealing as much as they can , than fixing the problem .