Don't Hate

I listen to a lot of commentary from all over this world wide web and I heard something about a financial bailout and talks of an auto bailout or something.

It seems as though a lot of faithful citizens of the US are outraged that they have to pay for the mistakes of others. I haven't seen anyone mention that perhaps their inaction to educate themselves with the financial world is partly to blame. If everyone knew how much risky debt was being thrown around beforehand.. well too late now.

And that's the point: It's Too Late. However, the bailout of financial institutions is imperative for investor confidence. By that I mean credit. They let Bear and Lehman go under, you saw what happened. Now, Jim Rogers, who likes to use analogies a tad too often, thinks for America to maximize what it has left of global economic dominance, should take the bankruptcy hits like a man. He prescribes failure as the best and only medicine for the current economic blues. Jim, I don't care who you are most of the time, today you're an idiot. This isn't Egyptian times or whenever you were born, without credit, today's world will grind to a halt. Us, the passengers in this well-oiled machine that, of course, are not wearing seat belts will be thrown free from the wreckage into a lower quality of life.

As for bailing out the automakers I think there should be a compromise involving the automakers to actually show a business plan that has a slim chance of working. The financials have business plans that work as long as they keep their hands out of the metaphorical cookie jar. Ford and GM just found out last week that quality vechiles for fair prices exist. They might actually fit Mr. Rogers diagnosis of terminally ill.

Oh and don't confuse this Jim with Jim Cramer. Cramer has been a bigger idiot for a longer time. I dub him the idiot king for his calls lately.

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