Friday, October 31, 2008


So there's been a lot of hubub about the bailouts lately. People talking Socialism (half the time about Obama, but the other half about the Paulson Plan etc.) which I think is silly. We've been bailing out banks and all industries for centuries in the world. Europe is much more heavy handed, frequently interceding on the behalf of "national champions" and propping up struggling companies.

Here's a list of bailouts in the last 40 years.

Obviously before that was the great depression in the 1930s. I am somewhat worried about long term inflationary effects of all this money flooding the system, but for now at least I think it's worth averting meltdown. As long as gas is down 50% inflation doesn't exist anyway.

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