Blacknessdefined’s Weblog

The Black Experience in America

Bail Out grows, language changes

Since the crisis is spreading and growing, the Secretary of the Treasury is signalling that the US may invest in banks to shore up confidence.  Article: US to invest in banks.This in layman’s terms means they are going to spend more of your money to stop the bleeding.  The credit markets and financial markets are frozen but the underlying problems besides corruption, greed, etc are fear and lack of confidence.  That doesn’t change suddenly.  We are going to be in this mess for a while.  They are starting to predict approximately 2 years.  Whoever wins the presidency is going to have to govern during hard economic times and will have to make hard choices that are going to piss off their constituents.  So if you are expecting an improvement in your circumstances immediately, you will be disappointed.

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October 9, 2008 - Posted by | Economics, Education

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