Posted by
dieneces on Monday, September 22, 2008 9:25:22 PM
When the government decides to take on a $1T dollar expenditure, they have to print money. When they print money, they make both your money and mine worth less. Indeed, even before they put ink to paper - as a bill or a bill - the price of a barrel of crude rose over $25 - Your purchasing power is 25% less than it was just yesterday! This is a direct effect of this bail-out, not less supply, greater demand, or evil oil companies.
Yes, you have Chris Dodd, Barney Frank, Jim Johnson, Franklin Raines, Bill Clinton, Janet Reno, Jimmy Carter, every person with a mortgage who didn't understand their adjustable-rate mortgage, every person who had a retirment account and knows nothing about personal finance, and too many more.
If the supposed reason for the bail-out is to help the little-guy, it's not off to a good start.