Category Archives: bailout

bailout, climate change, Prescott

Preskitt Tea Party

Instead of having our regular Wednesday night men’s  small group I decided to take the guys to see what was going on at the town square here in Prescott.

Temperatures dipping into the 30s prompted organizers to informally dub their tea party protest an “iced tea” protest, but the chill didn’t stop approximately 2,000 people from covering the north side of the county courthouse plaza in Prescott Wednesday night.

tea-party

Most of the Prescott crowd appeared to be in the 50-and-over age category, although a half-dozen teens calling themselves the “Future Debtors of America”

tea-party-2

As we pulled up we just happened to land a parking place right in front of the action. We were able to sit the the warm suv and listen to the speechs.

Interesting feel at the event.

( photo’s taken from the Daily Courier)


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bailout

HOW BIG IS A $700 BILLION DOLLAR BAILOUT?

It hard to comprehend something as large as $700 billion dollars in terms of coin.

So let’s look at it in terms of time to see how big 700 billion really is.

If we would measure every dollar as being equal to a second here is what it would look like.

1 million seconds ago is 12 DAYS AGO –
1 billion seconds ago is 32 YEARS AGO – September 26, 1976

700 billion seconds ago is 22,400 YEARS AGO – or, 20,392 B.C
1 trillion seconds ago is 31,710 YEARS AGO –  or,  29,703 B.C.

That is one big bailout!

Bailout in economics and finance is a term used to describe a situation where a bankrupt or nearly bankrupt entity, such as a corporation or a bank, is given a fresh injection of liquidity, in order to meet its short term obligations.  Often a bailout is in response to a short term cash flow crunch, where an entity with illiquid, but sufficient, assets is given funds to “tide it over” until short term problems are resolved. However, often bailouts are merely delaying the inevitable. (wikipedia)

“Without wise leadership, a nation falls; there is safety in having many advisers. There’s danger in putting up security for a stranger’s debt;it’s safer not to guarantee another person’s debt.” Proverbs 11:14,15 (nlt)

I am praying for wise leadership today.

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