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The Tanking of our Economy…

Good morning, Netizens...

Today's picture of the day is another David Horsey's excellent cartoons from this morning's Seattle Post-Intelligencer. It shows what the entire world has been watching-- the bailout of big money interests by the Feds and, despite what they have said to the contrary, it is a bailout for some while for others it has become a buyout by various banks and financial institutions without any real clear distinction why some have gotten bailouts and others shuffled into buyouts.

Perhaps it is clear to readers, but it is very unclear to me who determined who received these huge bailouts, and while others were told, 'sorry, no bailouts at this time.'

One thing is certain: based upon the articles I have read, the bail outs have done little to stabilize the business marketplace. An associate recently made a series of phone calls to regional banks that traditionally would extend credit to home builders and commercial firms, and discovered that, with only a very few exceptions, none of the regional banks are extending loans for development or new construction projects of any kind at this time.

Our government is hastily reassuring us that there is no cause for concern, but the Dow and other international marketplaces suggest otherwise.

Are you concerned?


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Spokesman-Review readers blog about news and issues in Spokane written by Dave Laird.