Tuesday, November 25, 2008

Another Bailout?

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Another bailout? Can anyone explain why do we need it? Is this the beginning of the end? The explanation that banks need to land money to people so they can borrow and spend more because when the people spend it stimulates economy does not explain how we are going to recover from the crisis. Put people in bigger debt is not a solution, but only delay of worthier. People do not have to buy a car every new year just because new model has GPS and the next model has DVD - it is an automaker who has to look how to improve technology and reduce the cost - it is an automaker problem to find a new markets...

It is not a consumer problem that a producer oversupplied the market with unnecessary, uncompetitive and overpriced product. My answers to the banks is "Stop putting people into the debt - it will crush you. You may not survive on the debts of others. Work on how to make people rich and you will be rich".

This bailout looks scary for me. I have feeling that banks uses the first bailout not what it was set for and now they need another package. Increase our national debt by another trillion? What is next? - Selling Alaska back to Russia?

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