NO BAILOUT!

I don’t know much about the economy except that government getting too involved in it has to be a bad thing. So, this massive bailout has to be a bad idea. Yet it is being rushed through congress faster than a declaration of war after Pearl Harbor. So Lex fired this e-mail off to his congressman and senators this morning.

The bailout is a bad idea.

First, it’s too much money with too little control. No doubt the exact same people who created the crisis will profit from the government free-for-all bailout.

Next, there is no guarantee the bailout will work. Apparently the financial gurus crafting the bailout couldn’t see or hear this train wreck coming while standing right next to the track. So, how can they possibly claim to know how long the train is?

Next, the world economy is so intertwined now, we’re sure to be bailing out some corrupt entities somewhere in China, Venezuela, Korea etc.

Next, people who make bad decisions shouldn’t be able to expect that Uncle Sam will pick our pockets to pay for those mistakes. Nobody, not even mom and dad, bailed me out when I bought that stupid 1968 Dodge Coronet.

Last, thriving capitalism requires that dead branches caused by greed, overextension and/or mismanagement be pruned to allow the opportunity for rest of the plant to flourish.

The fix:
There is incredible opportunity in this market. Any bailout ought to come from the private sector. According to Newt Gingrich, no government money would be required to correct this economic crisis if congress would simply suspend capital gains taxes.

Doit!