Auto Industry Bailout

There is absolutely no reason for an auto industry bailout. They talk about all the jobs that would be lost, etc. but it's just not true. Sure, some jobs will be lost, but do you think if they went bankrupt that they would just shut down and stop making cars? No. Don't you think Toyota or Honda would come along and buy an interest in them very quickly if they went bankrupt? Of course they would.

When it comes right down to it, the auto industry is in trouble because they've been putting out crappy products and now they want us to pay for it! Japan and Korea put out superior machines for a better price.

Let them fail. Someone will fill in the gap.

What A Wonderful Bailout!

Wow, the Feds were RIGHT! This bailout is solving all of our problems with market stability! Hey, just because the DOW is down over 400 points TODAY and London is having a really bad day too doesn't mean ANYTHING at all. The Feds did the right thing. They are smarter than us you know.

The American people were just dead wrong about the bailout. We have achieved the "market stability" that Bush and Pelosi pushed through and that McCain and Obama both agreed with.

Aren't you glad that American is safe in the hands of these people?

On the bright side, there are a lot of politicians right now cowering in fear in dark corners of their offices shaking at the prospect of getting booted out of office as their phones are ringing off the hooks as angry Americans call them screaming, "What the hell have you done to my country? I told you this was a bad idea!"

Down If They Do! Down If They Don't!

The DOW took a hit of almost 350 points today over fears that the proposed bailout plan won't be enough to stop a recession.

To why try to pass another socialist bailout plan then? Anyone who voted yes for this will be targeted for elimination in the next election. They defied their constituency. It will be a lightening rod issue for years to come.

Stock Market Down - Dollar UP

The stock market took a huge hit yesterday and lots of people are screaming about it but they dollar is up almost 6 cents against the Euro since Sunday evening. That's a significant jump.

A stronger dollar is much better for this country than a falling stock market.

Oil fell on news of the bailout failure but has rebounded a bit.

We need to just let it be and not force a bailout through Congress. We'll endure the pain and recover. Not only will we recover faster, the rest of the world will too.

The Fed might be eying a rate cut to get things going. That will drop the dollar unfortunately. I know it's tough when business can't get credit lines to stay to stay afloat but we rely on credit too much as it is which is why we have a negative saving rate in this country.

Doing nothing will also cool demand for oil even further for a while as we enter in to a short term recession which will drive oil prices down even lower during the tough times to come.

The least harm Congress can do now is nothing. Let's just hope Bush doesn't declare a national emergency and sign an executive order and force the bailout over the objections of Congress.