September 19, 2008: The day the free markets died…

  A note in history.  Today was the day that free markets, as we knew them, ended. 

  Go figure.

  I don’t think that most people realize that the nation is on the brink of total financial collapse.  The government, taking extraordinary means, is attempting to prevent a total meltdown.  Will it work?  One trillion dollars later?  Don’t count on it.  This could be a temporary solution or this could help at least give a "time out" for the markets, but it isn’t the likely solution to solve the problems at hand.

  We may or may not be out of the woods on this crisis.  I have said for a year now that there are very rough seas ahead.  Buckle up.

“If the American people ever allow private banks to control the issue of their currency, the banks and the corporations that will grow around them will deprive the people of all their property, first by inflation and then by deflation, until their children wake up homeless on the continent their fathers conquered.”

Thomas Jefferson

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Bush asks Congress for $700 billion for bailout

09/20/08

Bush asks Congress for $700 billion for bailout

WASHINGTON – The Bush administration is asking Congress to let the government buy $700 billion in bad mortgages as part of the largest financial bailout since the Great Depression.