Posted by: dinainsuburbia | October 3, 2008

bailout, I mean rescue package.. unbelievable…

I’ve had CNBC on since the House passed the new, more expensive bail out bill  rescue package.  I can’t believe what I’m hearing, but most of the pundits think that the bill package isn’t going to do jack-shit for the market!  NOW they tell us?  After we put $800 billion?

This is what I’m hearing.. it’s a “step in the right direction”, “what else is in the fed arsenal”, etc… What else?  I can’t take it- how much more good money do we have to throw after this shit.

I thought these people would be jumping up and down exctatic.  But they aren’t and they think that the market will continue to go down even with the $800 billion.

This is what, I think (and I am OBVIOUSLY no expert).. the regular guy has no money!  Incomes are stagnant or going down when adjusted for inflation.  If we can’t get the regular guy on main street (by the way if I NEVER hear that term again after this election, I’l be thrilled) to start spending money we are screwed.  And when I say spend money, I mean money that they HAVE not money that they are borrowing to make up for the fact that their wages have either stayed the same or fallen for the past few years (i.e. home equity lines of credit or credit cards).  If the feds somehow found a way to make mortgages more affordable, so people have extra money to go out to eat, the movies, buy a t-shirt, whatever, we’d be WAY better off!

Eh- I don’t know- I’m just disgusted.  $800 billion is a lot of bank… I hope we aren’t all disappointed.

And one more thing– if the credit market was so bad, why do the clerks at every major shop in the mall ask you to sign up for a store credit card?

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