bailout

My opinion, shared by the seasoned:  The law of contrary investing is, in essence, when everybody is running one way, you should be going the other way.  Definitely don't become part of the panic crowd.  Slowly, carefully, and above all, steadily acquire that which is available at a bargain price.  Think about it.

I've been listening to the cable news networks this morning, parade a bunch of financial experts, members of Congress and fawningly-inept news anchors tell me that we're now going to have to pay $720 billion for an economic "bailout," or "rescue," plan.  That money, I've heard repetitively, is to prop up (purchase) bad assets to restore liquidity and and confidence in the economy.

Which made a friend's e-mail even more confusing this morning.  He pointed out that buying bad mortgages is what Freddie and Fannie were doing, and we've already nationalized both of them.  The $700 billion-plus might be buying something, but, no matter what I've hearing on TV, it's not bad assets because we already own them.

I have sat here and tried to get my brain housing to comprehend this little problem that we are in with the economy.The only solution I can come up with and you may or may not agree is to bring every red blooded American service person home.I dont just mean from Iraq,Everywhere that those heros are at. The money we could save from sending over seas on combat missions,filling the coffers of foreign pols pockets and dont forget putting into the infrastructures of all the countries we are currently involved with as of now.Let these young men and women come protect and defend the domestic part of thier oath instead of the foreign part.