Ummm, sanity check time... Today's announcement du jour from our wonderful federal gov't, in particular Hank Paulson was that the latest scam, I mean cash injection is for consumers. With 800 billion dollars of freshly printed cash that we don't have a way to back up, we're going to inject the consumer credit markets.
Here's the part I need help with... Wasn't it easy credit that got us into this giant mess to begin with??? Wasn't it easy credit with zero down on a car or even a house that let people that shouldn't have been approved to begin with end up with a car or house they couldn't afford?
So, what in the hell are they doing???????
Yes, credit has become difficult to get, BUT THAT'S THE WAY IT'S SUPPOSED TO BE! Sure it may be a little too tight right now, but it'll loosen up on it's own. It'll loosen to the point that you actually need 10% or 20% down to buy a car or a house. You have to prove that you have the means to pay off the balance.
I'm completely bumfuddled (high finance terminology). How many trillions of dollars are we going to throw around to get people to spend more money they don't have and go further into debt.
What we're going thru is painful. What we still have to go thru is going to be painful. But the bottom line is we have to go thru it.
Ugh. Rather than feeling good that we're a day closer to the end of all this, I feel worse because the fed and treasury makes yet another mind numbing announcement.
Morning Post 10/03/2025 SPX
8 hours ago
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1 comment:
Don't worry, the bailout money won't loosen up credit. All the money will go to buy up other failing banks, so that they can get more fed money when they start failing again.
Rick
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