Stopping Bailout Madness


We shouldn’t be bailing out anyone, period, end of story.  This is a capitalist nation for heaven’s sake, with both risks and rewards.  Take away the risks and you increase the risky behavior until everyone is behaving irrationally.  So what can we do to stop the bailout madness?  The polls are against bailouts but Congress still approves them anyway.  Evidently advocating for lower taxes doesn’t work to choke off the supply of funds for bailout madness because the government just borrows the money instead.  Can we stop the government from borrowing more and more money?  What can we as individuals do, and what should we advocate that the Republicans do?


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You almost got it with the risk/reward thing

DONTREADONME (Diary) Tuesday, December 9th at 12:26AM EST (link)

I was on your wavelength the other day. I was thinking as a Government Engineer and trying to reduce risk to the operator of this widget I was specifying. I was thinking the following: if I decrease risk to one in a thousand from 1 in 10 I will have 2000 out of 10000 people using it, that means that 2 out of the two thousand will be injured. Now if I left it a 1 in 10 risk to the operator I would be likely to find 20 people out of 10000 that would use it and I would still have 2 people injured. Now here is the question, did I reduce the number of people injured or just reduce the risk so that many people would use it.

Risk to Reward, take away all risk there is likely no reward or no one will do anything and nothing.

Remember bailouts without return does not build anything but rather devalues the currency. It is my belief and I have not proof for this but my savings which is +10k is probably worth more now then it will be at this time next year. Bailing out the taxpayer through 2 months less income tax provide more value to your dollar then handing it out by the Government. Remember, the taxes are money earned by you the worker which gives it value to your Government. You working has provided that dollar value, Government printing money through debt expansion does nothing but reduce your dollar earned to something less than you thought. Everyone is talking deflation right now, but be warned energy and commodities are ficle investments and can change based on worldwide conditions. Oh there is trouble on the way if our Government continues bailing out industries and those industries still fail.

I completely agree.

chemjeff (Diary) Tuesday, December 9th at 12:47AM EST (link)

But what can we do? I don’t want to see my savings dwindle further, either explicitly or implicitly via inflation/devaluation, and I don’t want to perpetuate the moral hazard and utter stupidity which is bailout mania. Do we withdraw our cash and head for Galt’s Gulch? Or do we stay and fight? And if we fight, what is the battlefield?

As I said in one of my diaries

DONTREADONME (Diary) Tuesday, December 9th at 1:01AM EST (link)

This is what the Tyranny of the Majority feels like.

We stay and fight, because we have to. We right our congressman our local legislature and we talk to our friends and colleagues. You have a heads up since you are here participating. Remember this website has many viewers around the country. What we do is we participate in the economic process and do not pull ourselves out for the sake of fear.

We continue to be ourselves, learn new things, study new subjects, learn marketable skills and take risks. For yourself, become better at your job learn new things and become indispensible. Prepare to be part of a very competitive battle for employement if not already. This is what I have done and it has worked so far. Systems Engineers are in demand in the Defense Industry, eventhough Obama has threatened to cut them. What’s more, pick a subject on Redstate that you want to be an expert in and do some research and write a diary on a specific topic of interest to you and provide it to all. Remember that here you are like me trying to be heard. As such you are doing far more than most. Learn civics and teach your coworkers and family, be polite find common ground and try to persuad them.

More to come…

Thanks

chemjeff (Diary) Tuesday, December 9th at 1:15AM EST (link)

Good advice to be sure. But what I was really hoping for is some more direct advice on how to stop bailoutapalooza specifically.

I really wish I had an answer.

DONTREADONME (Diary) Tuesday, December 9th at 1:20AM EST (link)

I think it is best that we protect our friends and family first, because hold on this thing is going to get worse real soon. I have always wanted to be a teacher, but this whole R&D thing is really much more fun. How to stop the bailoutpalooza, well as Mr. Limbaugh pointed out we lost the election. Our only hope is that the bleeding can be stopped by the Senate Republicans and maybe the blue dogs.

Unfortunatly, the tyranny of the majority is upon us and feeling powerless is something at the moment we have to deal with I think. I will wait like you and hope that someone will comment on your diary with something more substantitive than what I offered. I can tell you this my Democrat Representative will not stop receiving letters from me. I will make sure that in 2010 I will campaign for his opponent in VA-11.

Last Thought for the Evening (Everyone Cheers)

DONTREADONME (Diary) Tuesday, December 9th at 1:30AM EST (link)

The bailout craziness, unfortunatly for the American people, will cause a heavy price for our elected officials in the next election if the wizards of BO are wrong.

The sad part is we never wanted this to happen and we screamed it from the rooftops. We never wished for our elected officials to be wrong Democrat or Republican because when they are with the influence our Feds currently have it can only mean a mess for the middle class and the wealthy to clean up in the future. That is if there still is a middle, upper middle and wealthy and not just a poverty and the ruling class (e.g. USSR)

 
 
 
 

Listen to me, Geez

DONTREADONME (Diary) Tuesday, December 9th at 1:06AM EST (link)

You have been here two years and I have been here 35 days. You should be telling me things. Sorry for the soap box thing before.

Oh don't worry about it

chemjeff (Diary) Tuesday, December 9th at 1:13AM EST (link)

I’m an educator. I know full well that seat time is not the same as learning.

 
 
 
 

What we should advocate is that the Dems let Americans bail themselves out

Mike gamecock DeVine (Diary) Tuesday, December 9th at 12:54AM EST (link)

And the time is coming during and esp after Obama’s first 100 days when we will be able to make the contrast stark. We must be for cutting taxes, and esp regulations that prevent small businesses from forming and growing and that prevent jobs in construction and oil drilling.

Obama and the dems will face the choice in the midst of a huge recession of favoring green crap that hurts lower income and middle class workers.

We must be there advocating for liberty.

That does not mean we oppose his Keynesian public works per se.

One thing we must understand. The housing/credit crisis is THE issue. It changed the playing field. We must compete on it, and now is not the time for trying to correct the mistakes we made on small govt advocacy the past 25 years.

Mike DeVine’s Examiner.com, Charlotte Observer and The Minority Report columns
“One man with courage makes a majority.” – Andrew Jackson

Okay that's fine, but...

chemjeff (Diary) Tuesday, December 9th at 1:16AM EST (link)

…is it too much to insist that the Keynesian crap not be financed via debt?

yes-nt

Mike gamecock DeVine (Diary) Tuesday, December 9th at 10:59PM EST (link)

1

Mike DeVine’s Examiner.com, Charlotte Observer and The Minority Report columns
“One man with courage makes a majority.” – Andrew Jackson