Friday, September 26, 2008

Poll the Audience

Take any TV game show.

Ask the Audience?

Everyone knows, when the audience agrees,
they are almost always right!


We are right.

But, just in case you are not convinced,
and Ron Paul hasn't convinced you,
we will pull in some more experts.

The Great Bailout Brouhaha

2. How bad are the current proposed bailout plans?
This is socialization of the banking industry, plain and simple.

2. How bad are the current proposed bailout plans?
Frankly, they are dreadful. First, let's focus on the aspect that should get the proposal dinged (or renegotiated) regardless of any possible merit, namely, that it gives the Treasury imperial power with respect to a simply huge amount of funds. $700 billion is comparable to the hard cost of the Iraq war, bigger than the annual Pentagon budget. And mind you, $700 billion is not the maximum that the Treasury may spend, it's the ceiling on the outstandings at any one time. It's a balance sheet number, not an expenditure limit.

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