The simple facts concerning the bailout, the candidates and this Congress stating that this will restore credit is in my opinion 1/2 the story. Don't forget they are talking about those who invest, foreign and domestic, that need this to survive. It is their bailout because of their greed. You, well if you buy the farm you buy the farm.
Now in order to pass this hot potato, without it looking like they rushed to save their buddies, they took a few extra days. In the end I do believe there will be enough votes to swing it [uodate, they did] and those who played the game will breath a little better that they fought the good fight but had no choice. Amazing wasn't it? The market sold off on the voting day and then like a miracle it came back the very next day after the no vote. What was that my friends? You fill in the blanks. That was ammunition to "make it happen". Then came the calls that their constituents wanted this passed. Yes that 20% who own and have it all. Their investment dollars were dwindling. Hey I would call. The rest of us 80%, well who the hell cares? Sorry for the blunt talk, just facts people, just facts.
Now according to the candidates the "engine" that drives the car is "The Middle Class" and they are correct. You hear it over and over and over again, The Middle Class, " BUT their definition of their Middle Class has nothing to do with average Americans. They blame average Americans for this problem and label them as irresponsibly. Rhetorically let me ask you if a crook admits guilt, does a liar admit they lied? No they cover it up, redirect it, do not address it, ignore it and go about business as usual. Fact my friends, fact. My question is why did they go about dismantling it? Yes, they, no one else, they brought this about by allowing usury, outsourcing America, Illegal workers, who are leaving in the drives because there is NO WORK even for them. That alone should scare you. Why, the answer is all in ideology and Free Markets.
Now that Middle Class has been diminished in numbers considerably. Yes there is still much money in America but not in the hands of the majority of working people and "thats a fact Jack as the movie line goes". Go to any store and ask the clerks, the low end workers what they are seeing and hearing, sadly Layoff. Go and try to buy car or finance something and hear the word of the century "unfortunately", go look at "The house across the street", go to a bankruptcy lawyer and listen to what they will do to you. Yes these peole of honor and trust what they do and have done, these professed believers.
Yes and even while they hear layoff those who HAVE still defend their champions. and get upset with truth. Like I said the facts are all about you to see or ignore but they are not going away soon. Yes and this bailout is just that, a major one to boot, because you just saved the ass of every one of them that did this to you. Yes and to think, really think, we this will solve it, well as that other movie line goes "stupid sees, stupid does". Sorry, I would hope to be wrong in every regard but sadly the facts just substantiate that. Only those without work or credit know. Call me or them what you want but you just may be next.
Now for those who make what identifies them as "middle class" and those below the real test is your Beacon Score, Debt to Income ration and the other factors Banks and investors use to identify if you are Credit Worthy. If you are an average American you most likely do not fit any of that and therefore forget about all this, it doesn't matter to you. If and that if is a big one, you are able to borrow, they will bleed you for more interest. You are after all a higher risk and you have proved you are not "personally responsible". They are though, you're just not.
So place aside all the factors that contributed to your circumstances be it your fault or situation you are in plain and simple terms "screwed". No bailout for you just you own all the bad debt now. Yes let me ask one question who is going to buy those rotting homes and who maintains them so they can be sold and lets say they are sold, who can rent them? Oh, I got it I forgot, not Americans, that's right.
As for that increase in the FDIC coverage what the hell does that matter to anyone?
1- They can't possibly pay every account out if the whole mess went south.
2- They would not allow access to your money, fact.
3- Most who are hurting don't have anything left to worry about. That is meaningless to them.
It is a facade that many gobble up. Now what about that tax credit for health Insurance. Well if you listened to the debate and read the plans you have your answers. Yes read "John's" plan and Obama's. Tax credit, I don't pay that much in to taxes, we just don't make enough on our income and we get our $1200.00 back with 4 dependents, all adults and no credits for children because there are none at home. No talk of those who will pay, like Mr. Biden said [by the way look on your credit card to see where your creditor does business, Delaware, Nevada, California- why, think Money] So, getting back to their "plan", what will that do for average Americans?
So if your "set" making your $75,000 and up, hurting, but have A JOB, retirement Income and government help you have no problems. The bailout is good for you and you love these guys. You have it all. That is for now. But lose your job, lose that income, then what? Make no mistake about it as the German politician said it is America's duty to take the brunt to resolve this "Global" crisis. My only question is, why?
Now here it is for those who just do not seem to get the bottom line. It is all about real jobs, real jobs for Americans. Do you think they are going to inject some magic pellet and turn on the switch and jobs will suddenly appear and many will all of a sudden start working again, NOW? Five or 10 years "maybe" but that does not help NOW. That is worthless, NOW. No industry, no technology, no manufacturing nada, nothing. Jobs where- retail?
Yes read the papers my friends THEY will prosper on your back while the rest of us who do not HAVE will watch you who have lose it. Yes facts you care not to hear or see, why;
NO JOB = NO PAY,
NO PAY = CAN'T PAY,
CAN'T PAY = NO CREDIT,
NO CREDIT = CAN'T BUY,
CAN' BUY = BYE, BYE.
Yes bye to your sales, your business, your dividends, your future. It really is as simple as that.
Robert T. Melaccio Sr. 2008 Copyright ©2008 Robert Melaccio
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