They chose $700 billion because they have $800 billion in solid assets in the national treasury. It the old theroy of "shoot for the moon" if you fail at least you've got, you know, like $300 billion.
You know, it's the nation treasury, if they don't have enough money, they'll just print more!
To me, watching this whole bungled ballet is like falling in slow motion and hitting every piece of furniture that is between me and the floor in the most awful way possible.
it is ugly. and it will get much uglier. and, since we're not getting the money from china, we're probably going to fire up the printing presses. can you say "hyper-inflation"?
luckily, chase stepped in to pick up wamu. but, why do i have this funny feeling that wamu is "just one more wafer thin mint"? keep an eye on the october 2nd expiration on the ban of short-selling. if that ban is not extended, we may see a run on the dollar. this cluster is not going to be fixed by any president, unfortunately. it may improve morale and consumer confidence, but this won't easily be fixed.
Rule #1: If you can't afford to buy it, then you can't buy it Rule #2: Don't be issuing all these T-bills so that our enemies (i.e.: China, Middle-Eastern countries) can buy them up Rule #3: Don't give a blank check to fix a problem that isn't the government's responsibility to fix.
good points. however, this has been coming since 9/11. it's just that this house of cards has been propped up every time it was on the verge of collapse. the government has borrowed billions from our generation's kids and grandkids, handed it to the masses, and screamed "spend! spend! spend!". and of course, the government led by example. have you seen what the national debt has done in the last 10 years? the entire system needs an overhaul.
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You know, it's the nation treasury, if they don't have enough money, they'll just print more!
To me, watching this whole bungled ballet is like falling in slow motion and hitting every piece of furniture that is between me and the floor in the most awful way possible.
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Oh yeah, and WaMu WTF?!! I think I should make t-shirts.
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Rule #2: Don't be issuing all these T-bills so that our enemies (i.e.: China, Middle-Eastern countries) can buy them up
Rule #3: Don't give a blank check to fix a problem that isn't the government's responsibility to fix.
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