Bailouts Are Setting Us Up For A Bigger Crisis
Andrew Gordon (December 3rd, 2008) Writes:
The government is banking on the American consumer to rescue the economy. But debt-ridden households have had enough, says Andrew Gordon. He says the government’s massive bailout are benefiting very few in the short-term. But the long-term consequences will be felt by all.
This from Investor’s Daily Edge:
The government’s latest bailout moves have me scratching my head. It’s throwing $200 billion worth of guarantees at recent and current loans tied to consumer and small-business spending.
Hank and Ben want the consumer to bail out the economy. And they want to do it by putting consumers deeper into debt.
They don’t get it.
They don’t get that consumers are tapped out.
What do they think when they see numbers that show that American households are in deeper debt than ever before? Or when they see that consumer spending in October fell the most in
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