Tuesday, September 30, 2008
Here's what I want to know.............
Unless you've been living under a rock you know that our economy is in big trouble. Here's my question (coming from a totally un-economic mind): all I keep hearing is we have to get the "credit flowing again", "free up the flow of credit", etc, etc. Now, I know that our family's goal in our personal budget is to get rid of debit so why is it a good thing to make it possible for our economy to run on credit again? It's also my understanding that the 700 billion dollar Bail Out Plan was to BORROW money from China to get our country running on credit again. Does this sound crazy to anyone else???? It's like paying credit cards with credit cards. Sounds like a bad idea to me. Why are we trying to free up imaginary money? That's how I see credit for the spender, imaginary money. Of course to the lender credit is not only real money but it's income through interest. Hmmmm, paying more interest as a country and spending money we don't have................doesn't sound like a good idea to me. But then again, what do I know?
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