Thursday, November 13, 2008

A Small Rant

According to today's Wall Street Journal,
"Treasure Secretary Henry Paulson officially abandoned his original plan to buy troubled assets from financial institutions. While the government will continue to invest in those firms, he said, it would also now focus on the nation's struggling consumers.
In detailing the next phase of Treasury's 700 billion Troubled Asset Relief Program, Mr. Paulson indicated the government would continue flooding financial institutions with cash, but would also try to increase the availability of student loans, auto loans, and credit cards."

The italics are mine. I don't blog about politics, but good golly that last just makes me Foam! What kind of crazy sense of fair play would make our leaders think that if the government is recklessly going deeper and deeper into debt, it is only fair that the general population should be assured the same opportunity? I read recently a statement to the effect that people (consumers!) are less likely to wander the malls buying stuff when they feel they have less equity in their homes. I guess government backed credit cards are the obvious solution.

In other news, we took our First Aid class tonight and all (but Katie) passed. We are officially qualified to apply band aids, tie on slings, and splint things. Unofficially, though, the pictures in the manual made me queasy.

4 comments:

Elisheva Hannah Levin said...

I heard the same news as you. Not being as wise as you are, though, I do blog about politics. But this is not politics. This is insanity.
You deserve your small rant. I am wondering exactly how much money they will have to print. I am thinking Weimar Republic. Oy!

I like your other news much better! That's a good scout. Be prepared!

Melora said...

Yup. That is our new mantra -- be prepared. And never read the paper before breakfast.

Kathy Jo DeVore said...

Agree, with both you and Elisheva: "This is insanity."

But then, since I also am not wise enough to refrain from blogging about politics, you probably could have guessed my reaction. :}

melissa said...

Saw this as well. UNBELIEVABLE! And don't watch the news before bed time, either.