Imagine a radical shift in the U.S. economy such that everything is paid for up front. That businesses have cash on hand for payroll, people have the money before they buy a car, and no one uses credit.
I understand the wails of the financial industry: our economy does run on credit. Maybe that's the problem. Maybe we need to shift our mind sets to saving first.
Something I've noticed about saving for something before you buy it: you don't want to pay as much. Even if you have the full amount that you might have borrowed.
We are in for a tough transition, folks.
And the Bailout Bimbos are Paulson and Bernanke for thinking the United States Congress would just hand them $700 billion dollars without accountability.
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