I read this on Yahoo News this morning:
As the bailout bill rushed through Congress, Paulson stressed that the major aim was to buy bad assets, primarily mortgage-backed securities, from financial institutions. The hope was that taking those bad loans off the books would encourage banks to return to more normal lending operations and unclog credit flows — the economy's lifeblood.
Really? Borrowing money is the lifeblood of an economy?
Think about your personal finances. Is being able to borrow money the "lifeblood" of your economic well-being? If that answer is "no" then what is it?
What should you, yes you, the everyday common man do? Do research, get educated on financial stuff and then start voting for people who understand principles of sound money. Also, you must educate your fellow-man and your own children. This can be as easy as what I'm doing: posting it on my blog and forwarding information to other people.
Here's a good start
It is my belief that the leaders of the nation are not telling the truth.
What else can you do? Get out of debt and stay out of debt. Opt out of the system. Live within your means. And I mean really. Instead of getting a car loan, buy a car with cash. You can find service-able ones for as low as $500. Drive that hunk of junk until you can afford a better one. Cash on the barrelhead.
My current goal, on which I am focused like a laser beam, is to get rid of debt. I would sell all painted models that the studio owns at $0.38 cents on the dollar if I found a buyer. If you are interested, let me know.
- By the sweat of thy brow shalt thou eat thy bread.
- Thou shalt not be idle; for he that is idle shall not eat the bread nor wear the garments of the laborer.