All Star Economic News

[al44]

I never had any respect for Greenspan. It was his loose money policies that caused this mess in the first place. Have a problem? We'll just throw more cheap money at it. The piper has played and now wants his due. It not only delayed the inevitable, it magnified the consequence many fold. Bailout or not, this is not going to be pretty. And forget the price tag on the bailout. It will cost way more. Congress is facing an election in November also. It would be political suicide to go back to the voters and say I voted to bail out Wall street but nothing for Main street. Look for quite a few hundred billion to be added to this before it's over. It would also be hari kari to ask the voters to pay more taxes to help fund this bailout. So the printing presses will be working full time for years. Great for gold and silver. Hold the physical if you can as confiscation is becoming a possibility IMHO.

...........al