World-News

Asia Times
by Pepe Escobar

10/09/08

The Wall Street US$810 billion — and counting — bailout is being interpreted by millions of angry Americans as no less than a class struggle weapon of mass destruction. It may cost US taxpayers over $2 trillion after real interest payments are added. Whoever is elected will inherit this toxic mess — which includes the biggest fiscal and foreign deficits in US history and no control of monetary policy. Yes, this bailout is a second Iraq war...

http://www.atimes.com/atimes/Middle_East/JJ10Ak01.html



Fiscal discipline at all levels of society is answer to mortgage crisis

Heartland Institute
by Sandy Liddy Bourne

10/08/08

As I write this, I have already lost more than $7,000 in my retirement accounts and $5,000 in my children’s education accounts due to the financial meltdown. It appears the bailout will cost me approximately $6,500 in additional taxes, and there appears to be no end in sight. This is rapidly becoming an extremely costly exercise, and although I am only adequately educated in the area of finance–and that education came from the school of hard knocks–I am annoyed and beginning to get very nervous. My guess is that I represent middle-America today...

http://www.heartland.org/full.html?articleid=23874


Informant: Thomas L. Knapp



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