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Re: This is a payoff for political contributions
Welcome, cpklapper!
I think you've nailed it.
posted by
WriterofLight
on March 23, 2009 at 8:41 PM
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This is a payoff for political contributions
Not one cent of the bailout money, from either administration, is economically justified. Indeed, the increase in the federal debt excludes business from the national credit market. The only active credit market, and thank heavens for them, comes from local banks and credit unions. The last small businesses to those doors, as well as national businesses who didn't buy a seat or two in Congress, are finding them the only doors to money for expansion or maintaining cash flow. Unemployment rises as a result, forcing consumption down.
In brief, the Grand Larceny of 2008-2009 is destroying our economy and sinking us into The Great Depression II. And it will only get worse because our banking system only pays for government spending in one way: taxation. The debt only delays and increases the tax burden.
I described all of this at the beginning of last fall and was ignored. Take a look at my website, http://www.carlpeterklapper.org , for more discussion.
Carl Peter
posted by
cpklapper
on March 22, 2009 at 7:08 PM
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Re:
I've heard the analogy that the Government is borrowing from itself. Very, very dangerous.
posted by
WriterofLight
on March 22, 2009 at 12:49 PM
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The Feds will inject up to 15 times the current money supply ie about 4 trillion of 'out of thin air money' to help Obama have money to spend. They buy Treasury bonds and taxpayers get the tab. It is all like playing 'dolly house'!
posted by
Soul_Builder101
on March 21, 2009 at 9:57 PM
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