Wednesday, September 24, 2008

Glad my taxpayers dollars aren't being used... buy out bad debts like they are in the US!

The US Congress is debating the need to spend $700Bn of tax payers dollars to bail out bad debts from its financial institutions.

$700 billion dollars!

That is the largest rescue package ever since the Great Depression and is an alarming fact that the US economy - of which we're tied to the hip - is in severe trouble.

Of course, with the markets failing, investors move into secure / solid asset classes like Gold and Oil and the price of oil surged upwards by $25 a barrel which pundits here in Australia are saying will increase our bowser cost by 25 cents a litre.

$2 / litre petrol is not far away people!

So whilst our taxes are not being spent on this farcical payout, the trickle down effects on our costs of living will be huge.

Funny, I heard an ad on the radio this morning for a special on LPG gas conversion for your car... timely ;-)

1 comment:

Anonymous said...

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