Kill the bill and let it all work out itself

I have been saying the same, that the bailout is not needed, and I am glad to see I am not alone.

The fact is this deflation will have to take place sometime. Either now or later. Unless we cut spending or raise taxes to pay off these bad loans (not going to happen), we will either borrow to subsidize them, thus increasing credit, or inflate the money supply. In either case, we will just be putting off the deflation caused by these bad loans in favor of worse future deflation.

Putting off facing the music always results in worse deflation in the future.

So better we face the music now.

If you are interested, here are a few less technical arguments on the same topic:

http://andrews.blogtownhall.com/2008/09/26/some_brief_thoug hts_on_the_bailout.thtml

http://andrews.blogtownhall.com/2008/09/28/living_beyond_th eir_means.thtml

http://andrews.blogtownhall.com/2008/09/29/a_question.thtml

http://andrews.blogtownhall.com/2008/09/29/face_the_music,_ dont_try_to_buy_votes.thtml

The first was written before I had concluded there was nothing good about the bailout at all, and thought that perhaps the loans were a significant enough percentage of the money supply to warrant postponing some of the deflation. A bit more thought dispelled that illusion.

Just glad to hear others arguing for letting the market correct itself. (Or correct the problems introduced by bad political measures.)

I agree.

We have forgotten "individual liberty and responsibility."

My best friend and her husband lost their home to foreclosure and she did was b*tch about the banks. Responsibility? Nah. Let the government bail me out.

Let's get back to the basics that made America ... well America.

Vote OUT these $%(*@# socialists this November!