Consumer spending has come to a grinding halt. Nobody except for fools are spending money on shopping, retail or new cars. Many retailers, car dealers, restaurant chains etc etc are going bankrupt on daily basis and thousands lose their jobs daily. October alone saw a loss of 240000 jobs.

But how can the consumer spend, when there is no job security anywhere? A lot of recent college graduates continue staying unemployed despite high GPA of 3.5 or beyond. A friend of mine who has bachelor in math with 3.5 gpa is unemployed and a second friend with bachelor in finance with 3.7 gpa is unemployed too. And they both are thinking of filing bankruptcy. This is how bad things are.

And the bailout does not improve job market and neither does it address the problem of how to make the consumer spend more. So then how will economy be fixed?

Giving 0 billion to failed companies does not do anything because they will fail again, since consumer spending is very low now. Fannie Mae, AIG again reported billions and billions in losses despite being bailed out. If General Motor is bailed out again after few months it would need second bailout.

Why don’t they get it that bailout is not the answer to the economic crisis?

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your thoughts ,,,,did president bush did the right thing in bailing out ,,,companies,,,banks ,,aig,,citi,,,etc,,,
or should they have been allowed to go bankrupt ?

what would have happened ?

Technorati Tags: aig, banks, president bush

Even OPEC oil cartels are questioning why prices spiked, and I quote:

"the cartel has argued that record rallies earlier this year were driven more by speculation than supply and demand."
http://news.yahoo.com/s/ap/20081019/ap_on_bi_ge/mideast_opec_s_next_step

Why do all these speculators have so much influence in driving up the price of crude oil? Can’t they be held accountable?

Also, have you noticed that the price of gasoline at the pumps hasn’t come down as quickly with crude prices? GREED and GOUGING at work at the pumps now. I wish I had something they needed so that I could punish them with it……oh wait, I do, it’s called MONEY. Now we need to find a way to move that money away from these money hungry theives……..Alternative fuels!!!!

But then again, all that would happen is that Exxon, Shell, Conoco would just file for bankruptcy and our government would bail them out…..how nice. Wish I had a business that I could run into the ground and then scream default and get helped out. Thanks a lot American Airlines, Fannie Mae, Freddie Mac, AIG……..
A hug would be nice, as long as you don’t pick my pockets and take my wallet. Oh wait, go ahead and take it…..Exxon, Chevron, Conoco and Shell have been emptying that wallet over the past several years……so its empty.

Technorati Tags: aig, alternative fuels, american airlines, chevron, conoco, crude prices, exxon, fannie mae, freddie mac, greed, mideast, news yahoo, oil cartels, opec, opec oil, price of crude oil, price of gasoline, rallies, speculators, wallet

Banks like Citigroup, AIG, Freddie Mac, Fannie Mae who got bailed out. Are they guarantee to never go bankrupt or go out of business at least in the near future? So would it be good in invest in them in the long run?

Technorati Tags: aig, banks, citigroup, fannie mae, freddie mac