Ironic that WaMu’s collapse happens to coincide perfectly with this bailout proposal trying to be hurriedly pushed through Congress.  It will for sure pass now <that was my take last night><now we are seeing major hiccups in the process (thankfully)>.  We have been sold out by various individuals in the United States Government.  Very unfortunate indeed, and some say the greatest looting operation ever in history.  Mark my word it isn’t over and will continue to spread to regional banks.  I find it interesting that Goldman Sachs and JP Morgan are the golden children in this whole mess, not to mention that Paulson used to be CEO of Goldman.  Coincidence?

In the EXTREME case you are going to want to have food and water on hand.  A decent supply.  I don’t know if it will get to that, but there is a lot of uncertainty in people’s minds.  When they are fearful they do stupid things.  Besides it never hurts to be prepared for an earthquake. I’m concerned about a run on the dollar starting abroad than at home.

Yes, I realize I sound like a doomsdayer, but  I’m just taking a pragmatic approach to the whole thing.  Show me some good news in this mess and I might be willing to alter my view slightly.
Has it occurred to you that we were fed the same crap with respect to going into Iraq about weapons of mass destruction?  This administration has been credited with being stupid, but I’m starting to wonder if that was all a line.  They have systematically destroyed the dollar, taken us to a never ending war – Iraq, allowed the credit bubble to get as big as it did, and in the end who gets to pay the bill?   The taxpayer.

And I’ll now step off my soapbox

-T

And don’t forget about Voltaire!

“Paper money eventually returns to its intrinsic value – zero”

~ Voltaire – 1729