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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.
My opinion? Well... it took decades to get the financial system into this mess. It won't be fixed overnight. As long as people don't have to take responsibility for their stupidity, we will never be out of this mess.

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. 

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