A few weeks ago, some dumbass Iranian so called Dr. on Radio Iran LA mentioned that everyone should get rid of their microwave ovens because microwave rays change the properties of water. His assertion was based on an experiment performed at a reputable U.S. university in which they showed wheat grass does not grow in microwave boiled water. It took a very simple experiment at home and 10 days to prove this crazy theory wrong to my wife and mother-in-law.
If you are asking gooz be shaghighjeh che rabti dareh, indulge me for a couple more paragraphs.
On Thursday and Friday I must have received 15 copies of the same damn email about someone proposing that the government should have divided $85 billion dollars among 200 million adult U.S. citizens instead of bailing out AIG. The proposal looked good until you realized the moron who wrote it did not know math even at the level of a 5th grader. By his calculations, everyone would have gotten $425,000 as a result of distribution of $85B whereas in reality, everyone would have received $425. Everybody was talking about this fantastic proposal without slightest thougtht. Even our neighbour, a UCLA trained MD had read and believed this crap without slightest thought.
Now we get to the proposed $700 billion bailout plan. Currently, less than 11% of home and commercial mortgages are in default. The bail out proposes that the U.S government buys mortgage back securities so that institutions owning bad or toxic securities remain solvent or liquid (ie. don’t run out of $$$). Them remaining solvent is apparently of paramount importance but no one knows why or asks why!!
The U.S. economy is weak. More and more people are losing their jobs and therefore more and more people are going to default and or go into foreclosure. Another 10% default would mean another bail out package of $700 in a year or less. What then? Another bail out?
Instead of bail out, the government should let all these financial institutions go under. They should honor the FDIC guarantee and insure money accounts up to $100,000 Anything more, so be it.
Instead of bail out, new industries and technologies should be funded so that high paying competitive jobs are created.
If someone or some bank took a risk to double or triple their money in a short time and it didn’t work, let them pay the price for risking. I sure as hell don’t want to bail out rich Wall Street bastards or greedy home flippers. Do you?
Tell your political leaders, NO BAIL OUT.
