Tuesday, September 23, 2008
Government Bailout
Anyone else worried about this 700 billion dollar bailout? Seven hundred billion! And we all know that if that's what the government is estimating that it'll actually be more like 7 trillion. I think this will affect each and every one of us in ways we never imagined. Time to pray.
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4 comments:
It is incredibly scary. There's a few jokes making rounds among expat bloggers in China:
1)What's the difference between a Chinese bank and an American bank?
--The Chinese bank has more money.
2) How are a Chinese bank and an American bank the same?
--Both are dependent on the RMB (Chinese currency)
When I look at how much Treasury bonds and other US government debt is held by China, it totally blows my mind.
My biggest problem with the bailout notion -- there is NO WAY that all the "bad" mortgages out there total 700 billion dollars.
Well, there's all the boodle the pols need to pass onto their cronies. 100 billion for bailout and 600 billion for payola. Yep, sounds about right.
I like science fiction. Here's a great story, terrible reality. What if the federal government bankrupts itself and we simply become 50 countries instead?
Maybe it would be harder for the left to throw their ideology into law when they have to battle all 50 states...and some are more conservative. Of course, living in Illinois, where half the population comes from Chicagoland- it would be a nightmare to be in that kind of political environment.
I really am not worried about it, except that Obama may win the election blaming the crisis on Bush and Republicans.
We will see. God allowed us to find the New World before the Reformation and a whole continent came to the Faith while Christendom was split apart. God will always have a place for HIS people.
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