US Economy

[Guest guest]

Namaste friends,

 

Today US senate passed a $700 billion bailout plan. There is fear psychosis

everywhere. First there was talk of letting market capitalism sort things out by

itself and let the faltering companies that made bad bets fail. There was a talk

of wall st vs main st. After scare mongering of tremendous proportions by

treasury secretary and a 777 point decline on the wall st, everybody seems

convinced now that the bailout package is needed and the economy will screech to

a halt without it. The media is abuzz with stories of how small businesses are

having trouble finding credit and how this is a main street issue also and not

just a wall street issue.

 

This is like a person threatening of suicide by holding a pistol to his head. If

we ignore the threat, will the blackmailer really pull trigger and kill himself?

Wall street is threatening US society that it is on the verge of a suicide.

Political leaders are caving in to the blackmail. My fear is that the current

action may cause more problems (and bigger problems) in the long run than no

action now. However, we may never find out.

 

If credit availability was the issue, there may be better way to infuse credit

into the market than what is being done. This package has been negotiated and

finalized in a great hurry, under tremendous pressure and without much due

diligence. This irresponsible bailout package may sink US economy into more

problems in the long run.

 

Astrologically, the time right now is not conducive a good long-term solution to

the problems of US economy. Instead this is a time of confusion and missteps. In

general, world is going through a transformation and we are in a state of flux

right now.

 

Best regards,

Narasimha

 

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