Another 800 Billion...

Our American financial wizards have decided the banking industry needs another $800 billion - to encourage LENDING.
So, if I'm understanding this right, we give money to the banks, so they can LEND it back to us, thereby putting us (and our heirs) more deeply in debt.

I guess I'll never understand finances like this.

If the US actually has $800 billion, why not just give to us - and leave the banks out of it. (Unless we decide to put some of this newfound cash - that's really OUR CASH- into some of these banks.)

But then - what do I know?
Just that Webster's word of the year is "Bailout"

where's my Bailout?

Today GM said it may cut a bunch of its' workforce. It "lost" billions last year."Lost" - as in paid out more than they took in. "Lost" meaning paid out to employees, who then supported the economy with their paychecks. And also paid out in bonuses to CEOs, and who knows what happens with that- probably "lost" in the Caymans, or on Wallstreet, or at the Mercedes dealer...

Why are bonuses paid out for failure? Why are companies still in business when they don't show a profit? How does that work? I mean, after 3-4 years of negative numbers, how is it they still pretend to be viable?

Something here is just not right..

The Temptation

of politics... It's so futile, yet so overwhelming.

Thankfully, we have no investments in stock. If we did, I'd prbably be a blathering idiot. Oh, I'm sure we'll feel the pain in many ways, but we won't actually have to watch our money disappear on a daily basis. So this week we've seen the government hand over hundreds of billions of dollars to Wall St, which has proven so well how it uses our funds. We've watched as our Congressmen actually voted for the bailout, barely batting an eyelash.

We've received our mail-in ballots.

We've seen the beauty pageants and the you-tube videos, seen the cartoons and heard the late-night jokes. Watched SNL explain the bailout. Saw the newly homeless doing what they can to make a last-ditch effort to maintain some dignity. Read the sad story of the man who shot his whole family because he saw no way out of his financial crisis.

During the great depression, brokers jumped out of windows. Now they just hold out their hands, palm up. Government is their friend when they're in trouble- but please! No oversight or regulation. That would be wrong.

Here's a bit of history for all you folks (all 2 or 3 of you) reading here...
the story of the Keating Five:
http://my.barackobama.com/keatingvideo

watch it, it's very enlightening for anyone who missed the real thing. And it gives insight into McCain's way of thinking.

In the meanwhile, I stay busy with my crafting and artsy-ness. I'm coming out with my new Recession Collection very soon. And after that, the Depression Collection should be following soon.

Gotta keep your chin up!