The Bailout – Paulson’s 0% Balance Transfer!
2008-09-24 — ml-implode.com
”But does this really solve our economic problems or make them worse? Ben and Hank are just offering us a low-rate balance transfer and higher credit limit on a new card. And boy are they getting a low introductory rate as yields on new Treasuries have fallen near 0%. Happy days are here again! We can keep borrowing, which means we can keep spending!”
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“Liars, and the Lying Lies They Are Telling You”
http://yourmortgageoryourlife.wordpress.com/2008/09/23/liars-and-the-lying-lies-they-are-telling-you/
“Privatizing Profits and Socializing Losses: How the Rich are Staying Rich”
http://yourmortgageoryourlife.wordpress.com/2008/09/19/privatizing-profits-and-socializing-losses-how-the-rich-are-staying-rich/
“Conspiracies and Headlines – What’s the Difference?”
http://yourmortgageoryourlife.wordpress.com/2008/09/22/conspiracies-and-headlines-whats-the-difference/
Short term, it might make things better. It will restore trust in whoever pulls the trigger on it.
long term, I think this will be bad for the US economy.