US Economy 2/10

[Guest guest]

Dear Narshima garu,

 

well if I remember right it is not the 700 M, USD but 850M, USD? isn't it a

revised one and the delay does hurt longer it is postponed

 

the rise in figure comes from securing depositors up to a million USD in

savings in the defaulted banks, now it is raised to 250M LIMIT SO THAT MORE

DEPOSITORS R COVERED

 

and I doubt they have a choice apart from many other messy situations they

created, it is the crime of the average American that hurts many normal

Americans

 

ones who took a 2nd or 3rd mortgage on a house, when they borrowed and took

additional loans on their defaults, the MID-WEST sates have the max no of houses

on offer all defaulted buyers, who bought and lived beyond their means in

Europe, India we r asked tons of questions apart from security and how we plan

to repay during its entire tenure not to there so the crisis so is the case with

credit cards, personal loans also no one has the capacity except that it was

offered with less strings has resulted in the great mess

 

BUT if the govt doesn't d this average student can't borrow to study, if he

doesn't get a scholarship, small business, motels, hotels, pubs, discos, cabs

many small sectors will suffer if the banks themselves don;t exist who will be

able to give them loans?

 

and right u r astrologically I doubt till sani Enters Tula will US economy see

some light in the tunnel [not the end though] their war bills will also haunt

them

 

I did foresee this a few days before 9/11 in a ICAS meeting had said this can

happen and US from a surplus economy will go to the doll drums and Sani in

Mithuna to Kanya is hell for them

 

and if USA has cold rest of the world has pneumonia, and if they have

pneumonia what to say of the world's sickness.

 

thanks for a god post

 

prashant

 

" Narasimha P.V.R. Rao " <pvr wrote:

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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