acoolone's Blog

 The failure to bail out Wall Street could be a good deal for the American people. Wall Street has been getting away with bad deals and in some cases flat out stealing money from the American people. States and local governments have been taxing citizens and raising property taxes as if we all had gold in our back yards. The oil speculators have been ripping our heads off on oil prices. Something had to be done to stop all this madness and maybe this will do it.

 Watching TV tonight you would think the world is coming to and end if you listen to the big guys on Wall Street. Well maybe their world is, and I say that’s a good thing. But before they go they would have you believe that no money will be available to buy cars, homes or loan out to businesses. They will even have you to believe some people will not get a pay check because the 700 billion they were counting on didn’t come though.

 I’m not saying everything will be just peachy, but if you watch yourselves and what you spend money on and stop spending on credit, you will be OK. It’s a good thing when things slow down for a while. It’s a good thing when oil goes below 100 a barrel. 

When thing slow down it give things like our paychecks time to catch up with today’s prices, or prices to recline back to our paychecks. We have all seen prices go up at the supermarkets and the gas pumps while our paychecks stay pretty much the same. Most of this was caused by and out of control Wall Street market. Bad deals, bad loans etc have gotten them into the fix they are in today.

 The housing market is another big cause of the problem. DL Horton and other homebuilders who started they’re on finance companies sold bad loans to people who should have never been able to buy a house. Over building and passing bad paper have put banks and lenders in a heap of trouble. I say shame on all of them because they knew the risk.

 Things will be tight for the next few months but everything will workout and we won’t have to spend 700 billion dollars. Just watch your pennies and only buy what you need and you will be ok. Seat back and watch prices fall and everything start evening out.