Another 700 Billion Dollar Flushed Down The Toilet

Today the Bush administration sought unchecked power from Congress to buy $700 billion in bad mortgage investments from financial companies in what would be an unprecedented government intrusion into the markets.

And believe your eyes. Yahoo Finance reported this: The economy could suffer a massive hangover from the government's efforts to rescue the financial system in the form of a soaring debt burden. But the alternatives look infinitely worse.

That mean the plan is bad, but it is better than using free market mechanism and solve the problem once and for all.

Wow!!! US education system clearly in trouble in the subject of Economic as all the so-called economists know nothing about economic.

We already know that The deficit for this budget year, which ends on Sept. 30, is expected to rise to $407 billion, a figure that is more than double the $161.5 billion imbalance for 2007, reflecting what the economic slowdown and this year's $168 billion economic stimulus program are already doing to the government's books.

Foreign governments have already own more than 10% of US economy and that's not enough? They gonna print more dollar, sell more t-bill to foreign government and keep depreciate the dollar? And that's the better way around?????

Clearly they have lost their mind. The largest and most important components of any economy is household(lower and middle class) and not rich and arrogant man that drives Ferrari. Household spending is the biggest contributor to any economy in the world. The "smart" economists from department of secretary and Federal Reserve claimed that commercial banks, investment banks, insurance companies and mortgage companies are too big to collapse while lower and middle class citizen are left to die?!

Everybody know no strong economy has weak currency. What Bernanke, Paulson, Bush and their gang do is destroying the dollar system and destroying the US economy. Forget about Osama bin Laden and all the terrorist in the world. The biggest treat to the US is Paulson, Bernanke, Bush and all the economist that agree to the plan. I can assure you if they keep doing this, about 10-20 years from now, US will definitely nowhere near the largest economy in the world and that most probably be China as by that time, China may own 30% or even 50% of the economy of US.

Republican United States Congressman from Texas, Ron Paul once said " the US economy now is like an drug addict. The best way to heal him is to stop giving drug to him. However what the US government does is keep giving larger and larger dose of drug to him until one day he will die. Stop giving drug to him now, he may suffer a while but after that, he will be a healthy man again.

Ron Paul is absolutely correct. inject money(drug) to US economy(drug addict) is definitely not the way to heal it. Short term suffering will ensure long term prosperity!