Vote No For the Bail Out

Mr. or Mrs. Politician Vote No For The Bailout!

 

This is a letter that was written to the Pennsylvania Representative Jim Gerlach about not voting for the new so called bail out bill to supposedly right the economy. If you haven't written your congressman then you should. If this bill passes then you will see an economy that will become a bigger problem, and harder for the public to deal with and will not rid the economy of its bloating.

 

 

Dear Representative Gerlach or Any Other Politician,

 

Please vote no for the bail out bill. This is not good in my opinion since we need to let the Free Market run its course.

 

What should happen is to use the 700 billion dollars as a back-up plan. Let the markets and the system handle this problem then if there needs to be a cash infusion use the bail out money as a back up plan. This would instill confidence since the free market would know there is a back up plan and it would respond in a positive way.

 

The markets are trying to get rid of bad practices and people that played fast and lose will their finances will suffer, but the prudent will be all right. When good times occur artificially, there have to be bad times to correct the bad practices that caused the good times, but to prop up bad principals with a quick fix will only temporally create a short-term solution.

 

Thanks for reading,

Dr. Raymond Jewell, Economic Advisor

 

If Congress doesn't pay attention to what caused this crisis then they are delusional. The cause is because the government forced loans on to people who weren't qualified, and by forcing the lending institutions to lend money to unqualified people. The Federal Government needs to let the "Free Market" correct itself so that this problem doesn't happen again, but if the Government forces this money into the economy then the problems will be "masked". When this occurs the bad practices that got us into this mess will continue.

 

Its like a person on drugs, you can't give them more drugs to rid the dependency. You have to detoxify the body; this is what has to happen, the Free Market has to get off the drugs [excess money pumped into the economy that artificially props up bad strategies].

 

The problem is that when the "Free Market" tries to adjust itself many people will be exposed for fraud, and bad practices which could include many public officials and people on Wall Street. This is the last thing that congress wants, which is to be exposed for the flaws that they created.

 

Will there be problems if the bail-out does not occur and the answer is yes. Many people who have played fast and loose with their business and personal finances will possibly get hurt, but the people that have maintained good fiscal practices will be ok. Many businesses that have leveraged themselves will be in trouble, but the sound businesses will survive. The 700 billion bail-out can be the fall back position when problems present themselves then the action can be taken, but to through money at what is perceived a problem [The Federal Government has no clue how much is needed and where the problem is, they are just guessing.] may only create many more inefficiencies, and cost more money in the long run. Plus it creates much more fraud and misuse.

 

The people that caused this problem need to be arrested and prosecuted. Remember that 600 billion dollars was spent several months ago and the public was told that that would fix the problem. We can't keep throwing money at bad situations.

 

Just make changes to the rules of the markets, add more insurance on bank deposits, tighten up trading rules, loosen up credit, and get the Federal Reserve to expand credit, and so on. Don't through money away. There needs to be a model build on how to fix the problems but first the problems have to be indentified. There is too much unknown and more useless money thrown at the problem can't fix it.  Where are the intelligent economists to answer the questions? All the people that seem to be talking are Politicians and idiotic news people who know nothing about the economy, except what they hear someone else saying.

 

Write your Senator and Congressman and tell them no.

 

Dr. Raymond Jewell, Economic Advisor

http://FinancialFreedomRadio.info

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Dr. Raymond Jewell
610-637-4884
Skype: rbjewell