To read the tribute to SFC Marcus Muralles, please click here
Wednesday, September 24, 2008
Economics Links
Anyone else confused, freaked out, or otherwise befuddled about the whole economic crisis we find ourselves in? The other day, I linked to Xran's explanation of the crisis, which was a good start. If you need more info on how all of this happened, go here.
Today, we have news that the big bailout might not be as set in stone as we have been lead to believe. I'm just going to do a huge link dump. It's easier that way.
There are laws that make it easy for irresponsible people to walk away from their credit card debt, and there are policies that still make it easy for people who have no business getting a mortgage to move in to a home far above their income. For decades, people have been encouraged to live beyond their means. That is the real problem.
Today, we have news that the big bailout might not be as set in stone as we have been lead to believe. I'm just going to do a huge link dump. It's easier that way.
- Newt is REALLY not a big fan of the bailout.
- Warren Buffett is a tad more optimistic than others out there.
- Several prominent Republicans are finally voicing their opposition.
- Some people are cautious about letting the companies fail.
- Here's a bunch of general news articles about the situation.
- Some think that if McCain comes out against it, the bailout is doomed. Reid says the Republicans need to get behind it.Reid even said that McCain was behind it... which McCain denies at this time.
- It's nice to know the FBI is going to investigate possible fraud.
- The Federal Reserve dumped millions of dollars into overseas money markets... why? More importantly, why do we have the Federal Reserve????
- At Politico, we have a plethora of comments concerning the bailout. Consensus? Is waiting a bad thing?
- Michelle Malkin points out one group that no one wants to blame for the mortgage crisis.
- Even Jimmy Carter thinks the bailout is flawed... hey... wait... let's take one more look at that bailout...
- On the bright side, this little fiasco means that maybe... just maybe... the feds won't be handing out money like candy. I know... a girl can dream, right? (They needed federal money to clean up a vacant lot and paint a mural? Seriously????)
- Thomas Sowell weighs in.
- George Will? Not a big fan.
- Keep up with me on this one... Congress decided that more people needed to own homes... whether or not banks thought they could pay their mortgages... so banks did what they were told and handed out mortgages like it was Christmas morning... a lot of those loans went into default... that was a big part of this little problem we find ourselves in right now... and Congress wants to make sure people get to stay in the homes they can't afford... and we wonder why there's a problem?
- So much for a balanced budget, eh?
- Do we really need "bold steps" right now?
- Jack Kelly explains what's wrong with "crony capitalism"... and it isn't the "capitalism" part.
- Ron Paul speaks... and I agree with most of it... did I just type that???
- MOM has more information on this situation than Average Joe can digest in one sitting. Great posts... just keep scrolling...
There are laws that make it easy for irresponsible people to walk away from their credit card debt, and there are policies that still make it easy for people who have no business getting a mortgage to move in to a home far above their income. For decades, people have been encouraged to live beyond their means. That is the real problem.
