55 FFF & Bush Economy

And she’s taller than most
And she’s looking at me
I can see her eyes looking from a page in a magazine
Oh she makes me feel like I could be a tower
A big strong tower
This is what I wanna be
Suddenly I see
Why the hell it means so much to me
– KT Tunstall

 Sorry – just couldn’t come up with anything on my own this week.  In other news..

“President [Bush] acknowledged [today] that many Americans are now in a difficult position, but he also stressed that the $170 billion stimulus package passed by Congress last month would help spur growth, adding that the checks should be in the mail by the second week of May.

“Fortunately we recognized the slowdown early and took action,” he said.

Under the plan millions of Americans will receive one-time tax rebates. Businesses will get temporary tax breaks and homeowners will get help with securing or refinancing mortgages in in higher cost markets.

But Bush also took aim at some proposed housing bailout measures, warning that acting too aggressively could result in “far-reaching and unintended consequences.””

while in another part of town……

“With the credit crisis worsening, the government took action to prevent [Bear Sterns] from going under and igniting widespread panic through the financial markets.

Bear Stearns (BSC, Fortune 500) shares plunged as much as 53% before moving off their lows to trade 39% lower in the early afternoon.

The announcement did not indicate how much funding Bear Stearns would receive, but executives said in a conference call Friday afternoon that with the money, the firm will “have the ability to fund ourselves every day, to do business as usual (emphasis mine).”

Business as usual?  Great….so they can keep making stupid mistakes and continto be bailed out by money supplied by YOU and ME, or by the Fed who keeps printing money without regard to the long term consequences.  Read your history books, say around the 1920’s and 30’s focusing on Germany…something about the Government printing money by the truckload, devaluing the mark to such an extent as to send the country into a depression that makes the US Great Depression look like a picnic.

Start stuffing your mattress with money now…it may return to being worth something someday as we all sit around campfires eating Alpo….


Filed under 55 flash fiction, bush, economy

4 responses to “55 FFF & Bush Economy

  1. the double standard really is just astonishing at times.

  2. Thanks for adding me to your blogroll!

  3. on posts like this makes me glad to be canadian. and then our PM talks….

  4. Snowelf

    That’s okay, I LOVE that song. 🙂

    And I agree–my ex got us into some very serious financial trouble and because I NEVER want to be in that position again–in fact, I’m terrified of it–I am uber conscious of my spending and fiercely particular about my budget. Let’s only hope others feel the same way after being bailed out…at least we can only hope…


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