Our 700 billion dollar junkie. The intervention we should just ignore.

You know that show where the family cuts off the addict. They reach a point where they can't give any more.

Having lived through the S&L crap as many have here did, we all can remember one main thing.

It's never enough. They always want more. More money. Then a rest, then more money. It took years to fix it. It cost us billions. Many people were enriched at RTC sales that sold assets for pennies on the dollar.

Now the junkies have grown up and are back needing a fix, but this time they have learned to manipulate our fears, and to make their demands more precise. "Give us money, we need it, but we will not let you dictate to us how to live". Things like marking to market their assets and general shit, is not in their interests because that would work for them. It does not maximize the cash they want. They want the money. They don't want to show us what they will do with it, and will leave us in the driveway with the car they wrecked when we gave them that too.

This is a tough one, but I am inclined to have the country go through the mess that will occur; of course 700 billion is no sure bet that we will not have an economic nightmare if we give the junkie the fix they crave anyway. It's time to take the lumps on this one, and hopefully the clearing of the dead wood will start a better country for the future.

We can give the junkie the shit. They may live with us on the couch mooching off us for years, or we can kick their ass out of the house. After the late 80's I am inclined to tell the junkie to hit the road.

Were you aware of that?

Google it. You ought to at least do that much before you start posts that rile everybody up.

There is no question about that. For you to say otherwise is irresponsible fear-mongering, just as bad as when Republicans do it.

...with you in it?

Just be prepared in late November and every two months after like clockwork the pleas for another 75 billion, another 200 billion.....

Oh, and it will last for YEARS.

This isn't a joke. I don't like anything about this "plan", but doing nothing is not an option.

Take a look at the TED spreads, or the explosion in muni bond yields. I don't think the bulk of angry Americans, many whose daily decisions scream their economic illiteracy, really understnd what is happening or its longer term ramifications.

This could get really ugly, really fast. And I'm not just talking about equity markets crashing (been there, done that). I'm talking about financial mutually assured destruction.

I have no problem with orderly deflation, even lasting a decade, but its not my preferred scenario by any means.

This could be something much worse.

to urge for NO bailout.
Imagine what a benefit a trillion dollars would do if applied to our infrastructure...just in jobs created alone for starters.