Most of the U.S. House of Representatives did the right thing. They didn't listen to Comrade Pelosi, Bush, Paulson, and Bernacke. They listened to their constituents. They voted down the bailout.
The market is going to dive. Credit is going to freeze. Things are going to look scary for a while. But we'll get through it.
Keep in mind that there are plenty of people with cold hard assets waiting to buy up stocks when they hit rock bottom. They'll buy more quickly if Congress lifts the capital gains tax. Congressman Dan Pence wants to lift the captital gains tax. We want him to do that. We also want him to co-sponsor Ron Paul's HR 2755, The Act to Abolish The Federal Reserve Bank.
CALL YOUR CONGRESSMAN NOW and ask for them to support HR 2755.
Contrary to what the mainstream media wants you to believe, not everyone is in debt up to their eyeballs or upside-down on everything they "own".
Some have plenty of cold hard assets and want to invest...they're just waiting until they get fire sale prices and I can't blame them.
Monday, September 29, 2008
America saved while stock market falls: Old coots with money lay ready to pounce
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2 comments:
Another reason to object to the politician bailout is that no where in their equation was any mention of holding back on unnecessary spending.You can name a long list of ideas of where to halt the money flow out-I see the expenditure list so when that stops I will beleive they absolutely needed this bailout.
The Euro/Asian markets were down ~5-6% BEFORE the vote was even cast. So the bailout refusal really didn't hurt the US as bad as people think it did.
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