Eric Krassinger

Everyone seems to be going a little crazy concerning the recent collapse of stock market and the continued collapse of the housing market. In the past couple days I have read all kinds of theories:

1. The crazy 700 billion dollar bailout – I am sure glad that our nation’s government decided to wait and think it over a little more closely when spending $700 billion on a drop of a hat
2. Instead of spending the 700 billion to bail out the “fat cats”, spend it on each citizen so they will each get $200k. I heard this from multiple sources but the math doesn’t work out. Each citizen of the US would get $2000 if that was divided correctly. It would be more like $3100 if you only counted tax paying citizens. I would personally leave the country if our government gave out any more money. Nothing like poor people still not able to afford housing but at least they have a shiny new car with big rims.
3. Reduce the interest rate to 0%. This would definitely help the people in the housing crunch but it would hurt everyone that was close to retirement, retired, or doesn’t have any debt since they would not earn any interest on their savings. Supposedly Japan tried this after the tech collapse a while back and it failed miserably.

Personally, I do not think we should do anything except maybe go after the idiots (who are government is bailing out) that lent the money to people who could not afford it in the first place. I witnessed this first hand when my sibling kept getting approved for housing loans that I knew he couldn’t afford but the banks convinced him he could.

I also think it is a great time to invest for a person my age; for both my 401k and personal stocks. Yeah it really sucks that I lost a boat load the past couple weeks on the stock market but it should go back. I am not even going to start worrying about my 401k since I have another 35+ years before I retire.