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Edited on Tue Oct-07-08 12:33 PM by TwoSparkles
They all know what's coming. It's been coming for a long time.
And isn't it just so interesting that Bernake decides to come out with the
horror story now--after nearly 1 trillion has just been handed to Wall Street?
The bailout is inconsequential to our economy healing. It always was.
Before the Main Street bubble finally pops, the criminals had to get their last infusion
of cash. I bet Bush, the neocons and their Wall Street masters are having
a party--rolling around in all of that cash, and snickering about the misery
that is about to befall the lower 95 percent.
Our country has created an unsustainable bubble--blown up by credit card spending,
people financing expensive cars with borrowed money they can't afford, consumers
using their home-equity for furniture, vacations and more Pottery Barn---and now
this spending is grinding to a halt. We're maxed out on our cards, the home-equity
loans can't be secured anymore and people aren't borrowing beyond their means. The
party is over.
Welcome to a very painful "adjustment." Now, we'll see what the economy looks
like when people stop spending like drunken sailors. Oh, what a hangover it
will be!
They all know damn well that the bubble is shrinking and that it will pop in the
near future. Hell, even their cronies at the credit-card companies are helping
to end the party. Bank of America has cut off credit to their lower 60 percent
of customers. Bernake, just said that more credit-card companies are cutting
off credit from consumers. They've made their billions from us. They've pillaged
us as much as they can, and now it's time for them to bask in their riches.
Main Street is on the verge of complete implosion.
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