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Tuesday, September 30, 2008

For it or Against it ?

Well, yesterday was a very eventful day. The market dropped over 700 points and the President said something must be done or we might experience something likened to the Great Depression. Now we are told that tax payers need to give Paulson 700Billion dollars so he can buy bad mortgage paper and bail the lending (investing) institutions out of this mess so they can again start lending to you and me or the small business man. We're told that if this don't happen by Friday of this week, Depression with a D will begin. Now if you look at the polls that Fox news is taking, over 70% of America don't want this bailout to occur. Does this mean that America really doesn't understand the magnitude of this problem or does this mean that America knows more than the Government. Well, I would like to be first to say, Congress is probably one of the most dumb group of people that I know, but unfortunately, this time, they are right that something has to be done. How can we be sure that 700 Billion will be enough. We can't nor can Congress guarantee this amount will work. Regardless of how much, something has to be done. Unfortunately, time is of essence and something, right or wrong, has to be done. If we do nothing, then the economy will start to shut down as we know it today. Banks will begin to close rather than consolidate. They can't stay in business, employee people without income. The grocery store can't get money to buy food to sell. You and I couldn't buy it because the banks closed and we don't have any money. The Government can't work fast enough to determine who has what. No gas could really mean no gas. The economy would shut down. We don't understand that or we wouldn't say don't do anything. If we had known in time, perhaps something realistic could have been done, but we don't have time on our side. Fannie and Freddie fed all the fat calfs and you can't make loans to people who can't repay and expect to make it up in volume!
You can't finance your way out of debt! I'm praying that God will give favor to America, but we sure don't deserve it. Remember we are the country that said no to Jesus in schools, God in our lanquage, We are the country that kills baby's and gives it no thought whatsoever. So we probably deserve anything and everything that comes our way, but I'm still praying for favor.

What do you think? This is a survey, so please respond.

Do you believe that the bailout should occur? Yes or No

Let me know.

6 comments:

BethAnne said...

IF the govt is going to give away $700 Billion of our dollars (that will probably NEVER be paid back regardless of what we are being told), I think they should make sure that the men/women who are in charge of these failed banks dont end up with millions of dollars in severance or salary. If a person works for a bank and contributes to their success, I think they should get a nice severance pkg/ retirement/ salary, but I do not believe that these high and mighty big dogs who head up failed firms should recieve ANY (as in not one dime) of the bail out money.

ALSO, I have to ask (like the rest of America) why the govt is so willing to bail out the big banks, yet they are not willing to bail out the little guy (who has been ruined by big banks who offered him way too much money knowing he couldnt pay it back).

I have mixed feelings about the whole thing --- does it make sense to reward poor business practices and poor management? I dont know the answer.......I do believe that this economic downfall is another sign of the end times.

jcdisciple said...

Eddie,

See my post, http://onesacrifice.blogspot.com/2008/09/thankful-to-be-kings-cupbearer.html

I'm heart broken for America. We don't really know what we are in for!! I just pray that the tender merices of God will prevail and that His people will heed His voice and return from our wicked ways.

alliekat said...

I do not know what the right answer is. I understand the theory of a free market system. However, it appears that we have already "manipulated" the market to the point that it will not straighten itself out as it typically would. I do believe that something needs to be done. I don't like the fact or the feeling that we are being rushed into this. I do understand the urgency of the situation. But I think there is more to it than we are being told and that BAD things are in the future if something doesn't happen. I definitely think each of the Corporate Executives of each of the failed organizations needs to be investigated, prosecuted if they have misrepresented earnings, and all their bonuses taken away and put towards the bailout debt. The problem with that is there would probably be alot of our Congress men and women indicted as well. I think this will help to usher in a new currency for us which will be one step closer to the end times. Biblical prophecy.....

Greg P. said...
This comment has been removed by the author.
Greg P. said...

I think some kind of bailout needs to be be approved, but, I'm not sure the one proposed was the right one.

I DO wholeheartedly back prosecution for the greedy failed "execs" that took all they could get their hands on!

They should at least be forced to appear before Congress, in a public hearing, and made to explain to the American public, their justification for being awarded that much money.

They also better wear dark suits because "moistness" WILL show up on light colored trousers.

Do I sound a little bitter because of all the greed?

Mommyluann said...

wow..that was a hot topic to survey. I'm with Bethanne...mixed feeling.

As far as the weight...i was convicted a while back that I should do it for many reason, health being number one. If ( and we know it is) it is in fact that my body is the "temple" then I am to be the caretaker of that temple. I also came to a "thought" when I reached 30 pounds that if with the Lord's help I could master weight loss that I could also tackle a few other areas in my life that could use a makeover to better please the Lord. I see it as a "win win" situation! It take for me daily reminders of what is good for me and what is not to make the weight thing happen. I think it's the same in my christian walk...I soon forget what's good for me and not good for me and have to be intentional to remember what is best for me to do and what is not good for me.

Next time you are in town at church make sure Bethanne introduces us....she's got a good solid dad with some great advice. SHe a lucky gal ( mostly because she has me for an acquaintance! ha!)