Another Week of Ambiguity in Personal Finance
I have read more material this week on the economy, investing, and personal finance than I can recall having done in any week prior. The more I read, the more I learn that there is very little consensus on any current economic issue affecting us, the taxpayers.
Fortunately, less of what is available to read is tainted by political spin, as the election is over and because the lame duck Congress has no clue what to do. That’s a good thing because whatever they do, it would likely be wrong, including a possible bailout of General Motors.
Speaking of Congress and a possible auto company rescue, isn’t it amusing to hear the loudest calls for a bailout coming from the Democrats? Mr. ToughMoneyLove thought that the Democrats were all about accusations and indignation at the evil misdeeds, ethical lapses, and corruption of big business. What happened to that cynical attitude as applied to the domestic automakers? I’ll tell you what happened: The unions are pulling the strings on this one. The UAW is no doubt telling Chris Dodd and other Democrat leaders that they need to lead the charge on a car company rescue, if only to save the overly generous union benefits for as long as possible. Who says politicians don’t have unwavering principles? They have at least one principle: Do what they are told by the folks that supply the most money and votes, even if makes no economic sense for the taxpayers in general.
Mr. ToughMoneyLove had posts selected for the following carnivals this week:
22nd Finance Fiesta hosted by the Financial Wellness Project.
Carnival of Personal Finance hosted by The Digerati Life.
Please give these a read and stay tuned. Also, thanks for reading Tough Money Love.