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Bailout plan being voted on right now


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Wow, with two minutes remaining it is losing right now. If this doesn't pass we are absolutely f***ed in the short term, the markets and everybody will feel it, although long term, this is a much better although I think they will just readjust the wording and make it happen somehow. Shocked that it might not go through. Dow is down about 250 right now, if it doesn't pass I think it ends down about 500+.

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Shocked that it might not go through. Dow is down about 250 right now, if it doesn't pass I think it ends down about 500+.



And within literally seconds of typing this the dow is now down 555 points as the bailout package is not going to pass.


WOW! Sorry to post like this so much, but I gotta think some people might be in their office and can't watch this live. It's a historic event IMO right now.

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In conclusion, there are three good reasons why Congress should reject this legislation:


a. It is immoral?Dumping bad debt on the innocent taxpayers is an act of theft and is wrong.


b. It is unconstitutional?There is no constitutional authority to use government power to serve special interests.


c. It is bad economic policy?By refusing to address the monetary system while continuing to place the burdens of the bailout on the dollar, we can be certain that in time, we will be faced with another, more severe crisis when the market figures out that there is no magic government bailout or regulation that can make a fraudulent monetary system work.


Monetary reform will eventually come, but, unfortunately, Congress? actions this week make it more likely the reform will come under dire circumstances, such as the midst of a worldwide collapse of the dollar. The question then will be how much of our liberties will be sacrificed in the process. Just remember what we lost in the aftermath of 9-11.


The best result we can hope for is that the economic necessity of getting our fiscal house in order will, at last, force us to give up our world empire. Without the empire we can then concentrate on rebuilding the Republic.




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