October 3, 2008

Congratulations!

With the passage by the House and the signing by President Bush of the $810 billion bailout bill, you are now (or soon will be) the proud owner of ... well, nobody seems to know what exactly. All you can be sure of is that it will be a bunch of stuff that nobody would buy with their own money.

My published articles are archived at iSteve.com -- Steve Sailer

8 comments:

Anonymous said...

Well, it's better (and cheaper) than trying to own Iraq. --Scott

headache said...

Maybe in future the state can make some money with it. But they will probably sell below value to their buddies in Wall St. once the worst is over. The worst thing about this crisis is the inbreeding between the FED, Wall st. and the government. Its like an incestious family.

daveg said...

You own stuff like this.

J said...

You are right, it is stuff nobody wants to buy with its money. But they may be wrong. There is a panic on the street and a run on the banks, investors are selling valuable shares for nothing in the stock exchange, people is in no mood to buy anything except gold. Once the panic recedes, as it always does, the stuff nobody wanted will be attractive once more. But then it will be owned by the State. I am more worried that the Government will end owning everything and everybody, like in Egypt under Joseph.

Anonymous said...

I want to thank the Democrats in Congress for making Iraq's fiscal drain seem not that bad.

Ronduck said...

I want to know who changed sides and at what price. Those Republicans that balked at $700b because it was socialistic were willing to vote for $810b for a price.

I want names, a tree and some rope for the scum.

Anonymous said...

Bush, Obama, Paulson, Bernanke, Franklin Raines, Barney Frank, all with degrees from Harvard. Keep up the great work, elites! Kick that hick Palin's ass!

Anonymous said...

The $700 Billion bailout reminds me of the fall of the Third Reich.

Hitler sat in his underground bunker giving orders to Armies that no longer existed while his country crumbled around him.

What makes Bush and Paulson think that they can sell $700 billion worth of bonds to finance the bailout? The interest rate they offer would need to be off the chart to attract that much money. As the world enters a depression $700 billion might not be available for any reasonable price.

Home prices will continue to drop causing more loans to go into foreclosure. What do they plan to do next year when another $1 or $2 trillion dollars worth of loans are underwater? Are the Feds going to buy those loans too? And with what money? Maybe they didn't notice that the USA is spent.