If the financial institutions had failed, that was our money - your & my retirement funds, savings, insurance plans, etc. - that would have gone away.
That would be a bad thing. Really, really bad.
Industry is a little more the USA dream - sink or fail on it's own business plan. We are badly affected if we work for tat industry, but it does not hammer every single one of us, and it is not like no cars will ever be made again - management & labor both need some re-adjustment if the current plan does not work. The pain will be pretty bad, but it is business - house building, car building, selling electronic toys at CC or Best Buy or Target.....
Those industrial or commercial things will need to readjust to current conditions. Painful, yes. But structures are in place for that to happen, and the business will continue one way or another. Some cars will still sell, some will still be built - names might change, production needs to drop either way, etc. But it will continue on without a bailout....
The financial stuff a bit earlier - that was kinda bad, they were leveraged out at 40 to 1, so when they lost 25% or more of their pretend value, we all were going to go down in flames. The world would have simpley absorbed the value, & it would all be gone forever. Our money system woulda maybe been gone, and that would be the end.
It is different.
I don't like the money bailout at all but perhaps it was needed, and bailing out any of the industries should be done very very lightly, if at all. I lean towards not at all, tho I do see a lot of hurt & pain to people & some areas of the country & I don't wish to see that.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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