Bailout = Security, Huh?

So much for the transfer of wealth from earners to bad decision-makers ending up as some kind of immediate safeguard. It was supposed to make investors and markets here and around the world secure and stable, right? From an early AP report today:

Wall Street tumbled Monday, joining a selloff around the world, as fears grew
that the financial crisis will cascade through economies globally despite
bailout efforts by the U.S. and other governments. The credit market remained
under strain, and investors piled into government bonds. The Dow Jones
industrials skidded more than 200 points.

and

Over the weekend, governments across Europe rushed to prop up failing banks. The German government and financial industry agreed on a $68 billion bailout for commercial-property lender Hypo Real Estate Holding AG, while France's BNP Paribas agreed to acquire a 75 percent stake in Fortis's Belgium bank after a government rescue failed.

Would have been better just to let the bad actors fail. If you believe in the common good, you cannot accept that it was best to give bad actors a gigantic infusion of cash at the short-term and long-term expense of everybody. We are getting hit with tomorrow's taxes because of the bailout. We are getting hit with a weakened dollar because we will borrow to 'afford' the bailout. And our markets are not stabilizing. They are crashing. Way to go, geniuses.

Punish those who voted for the bailout. Vote against McBama. Vote against Andre Carson.

It Had To End

That was a nice run of good news there- two in a row! With trends in this country being what they've been, I knew it had to end. The Senate, predictably, tweaked the bailout to make it a little worse than it already was, thereby making it more palatable to our Senators, including McBama. The House gets to take its' vote tomorrow. From CNN:

The legislation, if passed by the House, would usher in one of the most far-reaching interventions in the economy since the Great Depression.

Advocates say the plan is crucial to government efforts to attack a credit crisis that threatens the economy and would free up banks to lend more. Opponents say it rewards bad decisions by Wall Street, puts taxpayers at risk and fails to address the real economic problems facing Americans.

CNN got my opposition right, that's for sure. So, under the Bush Administration, yet another bureaucracy stands to be born:

the Senate version would set up two oversight committees. A Financial Stability
Board would include the Federal Reserve chairman, the Securities and Exchange
Commission chairman, the Federal Home Finance Agency director, the Housing and
Urban Development secretary and the Treasury secretary.

Financial Stability Board? What next? An 'Equalization of Outcomes Bureau'? A 'Forgiveness of Stupidity Department'?

I don't know about you, but for me, this doesn't inspire confidence. It terrifies. Glad I got out of the market when I did, and got into gold, silver, and oil. Best decisions ever. CNN covers some reactions by random Americans, none of them speak of confidence. Best advice there: Live within your means, and plan now for your future.

Barr on Glenn Beck, Repeated. Twice

(Big Sky, MT)- Let's hear it for hotel room dial hopping. I was pleased to find Bob Barr's full hour with Glenn Beck being repeated on CNN tonight. Here's the first quarter-hour:

Beck wasn't throwing Barr softballs. I'd love to see McBama get questioned the way Barr does. Let's hear it for Barr, though. He comports himself well. The more I see of Barr, the happier I am with him as the Libertarian nominee.