That was yesterday

And this is today.  And today sucks.

The Dow closed down 449.46 points.  That’s a net of 812 points (7.1%) down for the week.  Housing starts are at a 17 year – that’s seventeen year – low. 

Perhaps most upsetting is that our banking system is being nationalized under our noses.  This is not a good thing, folks.  I understand that a case could be made for the Fed bailing out Bear Stearns and then Fannie Mae and Freddie Mac and, finally, AIG.  But this really means that the Government is now running those financial institutions. 

We’ve talked about the looming fascist shift in this country before.  This move, nationalizing the banking system, brings us another (giant) step closer.  Was it warranted?  Were there other options?  Are you concerned?

1 Comment

Filed under neo fascism, The Economy

One response to “That was yesterday

  1. Why is it that our nation’s leaders are allocating our tax dollars to a non-governmental entity to bailout a company most of us could care less about? Since when does failure to operate a business properly merit the pity and hard-earned dollars of American citizens? I know of hundreds of business owners who have made mistakes in running their business; and not only does no one come to their aid one iota, but because they are self-employed business owners, even in a crisis they are unable to get access to simple financial benefits such as food stamps or Medicaid (that even illegal immigrants can get) when necessary!

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