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Most money would be stuffed under the mattress.
1929 redo?

...or in the case of hyperinflation...in the fireplace!!! (Germany, 1923...and we all know who came into power after that)



Funny...if we are heading for some sort of major economic shift/cycle...there is one big difference this time around. Imagine we are Germany...except with the biggest Nuclear arsenal in the world. Eeeek!
 
Thanks all for powerful posts. A big book, but spellbinding and instructive for our time is Wm. Shirer's, The Rise and Fall of the Third Reich.

Don't know if its too late but I encourage every reader and writer in TSP TAlk to email or fax letters to editor of the major papers in your states calling for voting No on the Paulin/Bush bad loan bailout plan. Here's one example I just emailed to Birmingham News.

Good bye middle class, hello poverty.
Fantastic pre fall weekend, great football, shopping, relaxing or maybe you had to work by necessity, not choice, but grateful you can work. But imagine last weekend’s mega party for Bush’s bad loan bailouts most of us missed in Washington with standard free drinks, food, weekend resort trips, and other of life’s sensual pleasures for our elected officials, their staffs, friends and the lobbyists who paid for it.
Did you have time to write or tell your lobbyists how you wanted them to vote on the latest Bush bad loans bailout? Most likely, many big businesses told their lobbyists, support the bailout. Why? The parties- no, but the wealthy’s tax write-offs avoid their paying taxes, but will force Palin, you, me, and our children for maybe three or four generations to pay and pay.
If you didn’t have time, please after reading this, call or email your lobbyists - your Congressmen and Senators to VOTE NO until Congress holds live detailed hearings on TV, radio and internet on the projected financial impact of bailouts on wage earners, the disabled and retired. Stop Bush’s bad loans bailout or see you in economic Hell where America’s middle class is taxed to poverty.
John L
 
I can't help but think of the phrase, "new world order" when I read these headlines.

Paulson Says Several Countries May Adopt Bank Rescue Plans

By John Brinsley
Sept. 21 (Bloomberg) -- Treasury Secretary Henry Paulson said he's confident several countries will take steps comparable to the $700 billion plan he proposed to buy bad mortgage-related securities to address the global financial crisis.
``We are talking very aggressively with other countries around the world and encouraging them to do similar things, and I believe a number of them will,'' Paulson said on ABC News' ``This Week'' program.
Paulson yesterday asked Congress for unfettered authority to buy devalued mortgage-related securities from investment firms in an effort to keep the financial system from coming to a standstill. The proposal would prevent courts from reviewing the Treasury's actions while raising the nation's debt ceiling.
 
Hi jon,

The rush to enact this bill to bail out the financial has the same feeling as the rush to go to war without oversight and with no bid contracting of services. This has a bad feel to it and I don't know where to run.
 
The same group of people that told us the war would not cost that much telling us it will only cost $700 billion more to fix Bush's failed presidency. When will it stop?
 
This administration will hold numerous historical records for incompetence, big government, and excessive spending.
 
They scared Congress into thinking the "end of America" was at stake. NO...the end of INSANE PROFITS FOR SOME was is at stake...and I guess if all you care about it control and money, then it is a major crisis.

Paulson: "Help, Goldman Sachs is going down, I have to fly in and save my cronie friend from only becoming millionaires instead of billionaires! Oh, and be sure to give me ABSOLUTE POWER".

All Hail King Paulson!
 
The Donkey Congress actually recognizes they are simply bailing out their constitutency - it's all basically politics. Are you all blind to the real reality?
 
They are trying to save the at risk population. It's the politically correct thing to do - that's why the Donkey Congress is going along with this plan - they want to keep their constitutency happy and able to vote. It's so obvious when only 3% of the population has caused this problem.

The Donkey Congress actually recognizes they are simply bailing out their constitutency - it's all basically politics. Are you all blind to the real reality?

OK, clear this one up for me. The 3% of the population that caused the problem, lenders or borrowers? I'm trying to figure out who the Democrats constituency is.
 
I have written the following to my US Representatives.

As Chairman of Goldman, Sachs, Mr. Paulson created muc
h of the problem, he now so innocently proposes to sol
ve. I'm sure you and your staff are astute enough to
see the possible ramifications and disruptions that
passing the Paulson/Bush bad loan bailout proposal
could have on America. This proposal must be postpone
d until there can be immediate and extensive public
hearings broadcast live over TV, radio and internet on
possible/ projected Paulson impacts on US business
owners, workers,the disabled and retired. This proposa
could destroy America's middle class in less than a
generation.
Was all the Republican fear mongering about Communists
in order to prepare for a National Socialist/ Fascist
Assualt on America by big business?
Vote No on Paulson's Plan.
 
Show-me,

I've already been warned recently to be careful regarding racial topics - does that provide a hint to your question? Borrowers...
 
MS and GS just became commercial banks. LOL

LMAO...Goldman is now a commercial bank. Not so sexy, eh??

Oh how the mightly have fallen! Asia appears to not like it:


b


Just think for a second...the premier "best of breed" investment bank is nothing like it was. THAT HAS GOTTA HURT IF YOU OWN GS! <whince>! That is like Best Buy coming out and saying they are just going to sell Dishwashers now.
 
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