A reminder on the bailout.

I haven’t watched this video since it was made. Five minutes- ad lib, no cue-cards, no teleprompter, no script, no edit. It was commentary on the $150 Billion dollar handout that the Bush administration promised us would “stimulate the economy” by sending out checks of $300 per taxpayer.

That was in January 2008. Guess it worked, huh?

My prediction- this $700 Billion bailout won’t do much more than set things straight for another 6-9 months, before more problems pop-up. Without helping John Q. Public out of debt and capping rates and fees, as well as bringing strict financial accountability back to Wall Street, we’re just tossing more good money after bad.

Your thoughts?

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Drexel Dave

Another great podcast from James Howard Kunstler:

KunstlerCast #33: The Great Bailout 2008