The following is from Itulip.com
great stuff!
read this:
Your Wile E Coyote Government
Wile E Coyote and the Road Runner explain why the $700 billion Paulson bailout can't work.
The problem is not only the bad debt that is clogging up the credit markets but the bad debt that is being mass produced by the crashing residential real estate market.
As home prices fall, even loans that are considered "good" today will be bad in a few months. Buying out the existing bad debt won't stop the process.
Oh, and then there's the matter of foreign debt.
be sure to watch this (turn up the sound good music and effects):
http://uk.youtube.com/watch?v=zPHUtF...
I could not have explained it better myself- Maybe this should be on TV it is in a format most people will understand.
