Treasury now wants to bail out FOREIGN banks!!!???

[RedRider]

Check out the latest headline on Drudge:

http://www.politico.com/news/stories/0908/13690.html


I don't even know what to say anymore...

[45 ACP]

I know what to say.

"Weimar style inflation"

I think that sums it up.

[Portmanteau]

America is going to be RAPED of all of its assets, and then stuck with a monstrous bill.

[Bill843]

The ridiculousness of the Paulson mega-bailout plan is no accident.

The US financial system is very, truly f*cked. There is no way to prevent major collapse. The best people can hope for is a fairly slow collapse (over some-number of years) that allows the little people some time to adjust to the new circumstances.

My suspicion is that Paulson is fully aware that he cannot prevent this, there simply is no way. So he is asking for an impossible price to pay, in order to absolve himself of blame.

Basically what Paulson is asking for is to be put in charge of the entire world economy, and to spend US funds wherever he sees fit. He knows that congress is very unlikely to agree to this--but when they refuse, he can then walk away shrugging as everything fails, and say "it could have been handled better, but they wouldn't let me".

Paulson has already said he would step down when Bush Jr's reign ended, so we already know that Paulson is expecting to walk away from the entire mess before there is any kind of solution [note that there's at least one more years of sub-prime mortgage failures in the pipeline, and at least two years of alt-A failures after that]. All Paulson (and Bush) are doing now is stalling for time, hoping to make it to the day when they can walk out their respective doors and know that somebody else has to take the blame for making decisions about the situation.

What I am curious to see is how long Bernanke holds on to his fed chair....

-end-

[Portmanteau]

The only thing we can do is attempt to get out of the path of the Economic Disaster Express. Most of America is tied to the tracks, and will be obliterated when it passes through.

You can do this by stocking up on emergency preparations (food, etc.) and transferring your paper/electronic "assets" to real assets like Gold & Silver, ASAP.

[Twisted Avatar]

The only thing we can do is attempt to get out of the path of the Economic Disaster Express. Most of America is tied to the tracks, and will be obliterated when it passes through.

You can do this by stocking up on emergency preparations (food, etc.) and transferring your paper/electronic "assets" to real assets like Gold & Silver, ASAP.

+1

That is the ONLY recourse the average person has at this point in time.

Your phone call to your state Rep will not be returned.

Your Petitions wont mean shyt.

Your rally will end up getting you arested and labled a domestic terrorist.


Then only thing you can do is buckle down and get your self prepared to see the law of the jungle unfold in this country in all its gory detail.

And you best be mentallyready willing and able to anything to anybody that will attempt to assert there agenda on you.

Each of us is going to get a knock(or boot) at the door.

Be ready.


T

[Fanakapan]

Americans are 2 months away from elections, in which at least half of Congress will be seeking to retain their jobs ???

If you cant bring pressure to bear at this time, then I would advise you pack up and go home.