I have heard back from my representatives. They say they will not support the bail out. They want to work on a more fully thought out plan that has checks and balances. Good for them. They listened to the multitudes that say "no bail out."
Floating around on the Internet are a lot of bail out plans that give the people the money. They range in value per individual, but essentially they provide enough money for Americans to pay off their debts.
Can you imagine that? A debt-free society.
Of course, everyone then would have really good credit. Maybe not sterling, but pretty good for just about everybody. The companies that have survived this turmoil will of course extend a LOT of credit.
Giving people money does not make them smart. Oh, some smart people are good at accumulating money. However, giving people money does NOT make them smart.
Can you imagine the stimulus to the economy, when just about everybody is pretty secure (with their house and cars paid off) and now in possession of disposable funds? Those mortgage payments and car payments would now be available for EVERYTHING ELSE.
It would be an explosion of rampant spending. The bad-taste of popular culture would go wild! The grill work of fourteen-year-olds alone would jack the price of diamonds by depleting the supply. Bobby gas jockey would no longer be endlessly saving for that bad-ass tattoo. He would have skin art head to toe.
There would be no question that most people would eventually find themselves back in circumstances much like the ones they are in now. It would be interesting to see how long that would take.
It is just a pipe-dream, but what a ride it would be!
1 day ago