I just heard that the bill for the Wall Street Bailout has not passed, I hate the bill too, but I think that we have to do it. So much could go wrong now if people are to the point where they feel the government is just not going to get things done. I am to the point where I don’t think they are going to get much done and it may not be on time. Unfortunately it seems to be a wait and see. With any luck we will have investors that will give it time, but the stock market is already responding.

Frankly I think either way things are going to suck for a while, either we pass something and get though this eventually, or we get to relive the great depression, well we have a chance at least.

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The economy sucks and according to the article I read this morning the financial sector is the worst it has been since the 1930’s. Yesterday I talked to some people online again who are today hoping to get to their banks and pull all of their money out. I kept telling them this is a bad idea, the last thing we need is a run on the banks. That is one of the things that caused the great depression. If that had not happened we may not have had that issue.

Right now the banks that are failing excluding the one a few months ago, are all investment banks that are effected by the housing crisis. Banks that have personal checking and saving accounts are fine and will be fine if we don’t do a run on banks. Personal bank accounts have up to $100,000 insured if you have more then that put anything over that into another account in your kids name or something if your worried about it, or you can give it to me! I wouldn’t mind that.

I really just hope people will take a look back at what caused the problems to start the great depression and learn from it. There are many similarities between the 20’s and the 90’s that make you think. Of course with the way most people are, I’m lucky if those reading this know what the great depression was let alone what caused it. If you don’t check out this site What Caused the Great Depression. It’s a read but you will really see how similar the situations are and hopefully learn what we need to do as normal people to keep things going. Also you’ll learn how the government has things in place to help us.

If your wondering how the insurance works check out the FDIC website

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