Well I got news for ‘em. I run a small business and employee approximately 50 people. I have toxic assets too! They are called my employee payroll, my rent, my light bill, adhoc, infinitum . If I have to borrow just to meet these obligations, I’m done and no one comes running to my aid. The Fed has infused $600B into the markets in the last week or so and now we’re going to give another $700B with no real idea where this will end. If I ran my business that way, I would be back talking to the lender sooner or later needing more.

For decades they have created a climate which urges companies to ship actual jobs to foreign lands. A climate reminiscent of pyramid schemes…. hey, get your friends to get their friends to get their friends to give you $100. You’ll be rich! In the end the guys at the bottom of the pyramid get nothing! It’s a fools game.

I don’t pretend to understand the economic/accounting doublespeak which is barraging us these days. But I sit in wonder when I read something like the following from EMacs Blog

But look closely and you’ll see a stunning 53% of GE Capital’s net worth, a total of $31.6 bn, is in mushy ephemera, goodwill and other intangible assets. Meaning, it’s got $28.4 bn in hard assets.

Remember, more than half of GE Capital’s net worth, its book value is, well, your guess is as good as mine.

The bankers and politicians and big business leaders in this country live in a much different reality to mine. I have news for them all. The recession is here, it’s been here. I can tell you the date it started.

As a nation we have forgotten the value of a dollar and a hard days work. We have been living on borrowed time and money. Sadly I fear we will have to try and eek out an existence on borrowed money for some time to come… time though has run out!

While everyone in the media complains about how mainstreet isn’t listening or doesn’t see the real consequences, I believe it’s everyone else that hasn’t been listening to us!

The reason we are against this bill is because we don’t trust our government, we don’t trust this plan to work, and we don’t want our wealth and freedom stolen from us in the process!

In other words, we trust the free market system more than we do our own government and we would rather take the hit now (and yes, we know that means our 401k’s, retirement, college loans, and jobs) than leave the mess for our kids to clean up! Call it throwing in the towel, whatever you want to call it… or maybe it’s just called REALITY! Let the markets work it out on it’s own, and maybe our kids will get to live in a stronger and better (and free) America.

Has anyone else noticed that security systems, safes, and gun sales are at an all time high??

Instead of debating the merits of a flawed bailout plan filled with wooden arrows and race tracks, we need to start thinking about damage control and educating people on what they need to do right now to prepare themselves for what is coming. We should be spending this money on debt counseling services, putting consumer education classes back in our schools, and getting those vultures (credit card companies) off of our college campuses. Americans need to learn how to actually invent things and make products again instead of painting other peoples nails, trimming their bushes, and stealing their money for a living!

We can overcome this, but not if we let “business as usual” in the United States prevail.

The economy is bad, home prices are down, but gold is at the top. Do not wait for it to drop. You will have wished that you sold!!!!

The Democrats like it because it builds up anger and resentment against the “evil rich”, helping their side in the election. Bush has to do it because if he doesn’t, the Chinese have threatened to sell our dollars, which would finish us for the next ten years. Would they really do that? That is something we REALLY can’t afford to find out.

Auto sales last month were dismal, with fewer than 1 million cars and trucks sold in September.
Of course they were.Everyone HAS a vehicle.It’s called supply and demand.With easy credit,everyone bought new vehicles,paying for them for 7 years.How can they buy more when they still owe on the last one?I won’t even get into paying more for groceries,gas,and every petroleum related item out there.

Small business owners who need to meet operation costs or grow their business are finding it increasingly difficult. While there are loans available, they are at sky-high interest rates.
What makes it MY responsability to see that the “small business owner” can borrow money?You’re advocating taking my money because the “small business owner”can’t get credit.Guess what?He shouldn’t base his business model on his ability to get credit.

And let’s not forget the housing market. Consumer spending is 70% of the U.S. economy. Much of that is related to housing. Not just with realtors and builders, but also everyone who benefits from home transactions such as furniture salespeople, contractors and moving companies.
Supply and demand Brian.Everyone who wanted a home,got a home.The problem being,they all couldn’t afford a home.Let’s not also forget Brian,that while we’ve been basing our economy on building houses,we’ve been shipping jobs overseas.

Brian,we’ve had the biggest boom to housing ever.Record profits and record sales of household items,homes,appliances,etc.,, were made.At some point,that was destined to end.You’re not seeing the market contract,you’re seeing the market correct itself from a false/propped up economy and you’re advocating propping it up even more.