It's looking like, despite overwhelming public opposition to the bailout bill, Congress is going to pass it. So much for representative democracy; the so******m of Wall Street is here. I'm going to go out on a limb and summarize some economic predictions: * Banks get some relief (most likely temporary) * Dollar tanks, oil rises, gas prices rise to over 5$ a gallon * Treasuries are sold, yields rise, mortgage rates rise, maybe as high as 10% eventually * Fed cannot cut rates because of inflation pressures * National debt/Balance budget becomes huge problem. Normal income taxes must rise by 1/3rd or more * Incomes are reduced further, higher mortgage rates, lower incomes, no one can buy a house, problem gets worse. * Banks need another bailout. * Economy weakens dramatically Conclusion: * Save as much money as possible * Look for ways to deal with currency weakness (i.e. commodities, foreign currencies, tradeable goods) * Expect your taxes to go up significantly * Expect to pay over $5 a gallon within a year for gas. * Expect economic activity to weaken dramatically within 24-36 months * Expect this weakness to drag on for many years * Job losses will be heavy over time Basically, we're boned and so are our children due to inflation and higher taxes.