This so called “rescue plan” is a major disaster. I can not understand how come we no longer accept that the economy has its cycles and recession is as important as growth for the system to work properly.

We are now paying the price of excessive interest rate reduction after the dotcoms went bust and 9/11 scared the hell out of everybody. Todays situation comes from not accepting a mild recession at the time.

Now, trying to bail out the system with a trillion dollars is absurd. Our system is based in creative destruction and the events in Wall St. these last weeks are creative destruction at its best. Banks will fall, companies will fall but if we do it right and allow for a free flow of capital, others will rise. Will it be easy? Hell, no! Money has been lost, value has gone down the drill, and tough times are coming. But this is what happens after a decade long of overspending beyond our means.

If you are American, call your representatives in Congress and Senate and ask them to stop this disaster. Inflation is coming BIG TIME! Value has been lost and new money will not make for it, it will only reduce the value of already existing money (aka… your savings!).

Regards,
Marc Arza