Sunday, September 21, 2008

I wonder when they will run out of bad ideas

I have been reading quite a bit about the money that the administration is trying to steal from American citizens.

My god, these people have some nerve.

Maybe I am unsophisticated, but what the hell are we getting for this money? Paulson and friends want to spend our money buying shit for better than market prices in order to spoof the economy into thinking that all is well. In other words, what they want is for the game to hold together long enough to get out of office and have the whole mess fall apart on someone else's shift.

There is a huge amount of bad stuff out there. 700 billion can't bring it all in, What they want to do is make sure that their banking buddies at the club have as much of the crap as possible taken off the books of the banks at the taxpayers expense. Because remember, Paulson and Bernake are first and foremost bankers. They worked for banks before, they work for banks now, they will work for banks after they leave office. They will make sure that their own bread is buttered quite well, thank you.

I am hoping that congress flushes this idea. But remember first and foremost that this is an election year, and our elected official's collective IQ goes down into the single digits this time of the electoral cycle. Don't get your hopes up.

CK Michaelson over at Some Assembly Required said it best

"Buy bonds. Grab up financial stocks. Either things will soon recover smartly and you'll be set for life, or they won't and the loss of a few bucks will be dwarfed by all your other problems."

1 comment:

comrade simba said...

Once you wrap your brain around it not being money, but debt, it makes it easier. They're just pawning off who has to pay to every new entity they create. As long as everybody believes the debt is being moved around in a responsible fashion confidence remains.

Our biggest problem as a nation is that we don't produce anything of real value compared to what we "buy". We see no merit in growing a turnip when we can just buy one for 59 cents. Why bother? Why bother spending a weekend whittling a shovel handle when you can get a new one at the Vole-Mart for 9 bucks? You could weave a shopping basket while you watch tv after "work" and sell it for a couple of dollars but that idea is considered to be worthless when it won't even buy a gallon of gas.

We have nickle and dimed our way into the poorhouse from sheer laziness. Ant time you eliminate the function of money in any aspect of your life you gain a little more insulation against the financier's machinations.