Wednesday, December 03, 2008

Economic Basics

The current government bailout of various failing entities can be summed up as follows:

We are going to take the money from those of you who are competent and did not create these financial problems and we are going to give it to those who are incompetent and created problems for all of us and ask them to fix the mess that they are responsible for in the first place. If they find progress is not being made in their fixing efforts, more of your money will be printed, given to the same incompetents, and put on the debt your children and grandchildren will have to pay. It is all very simple.

Personal Unsecured Loan