Okay so word on the financial circuit today is that politicians are already testing the waters to see what the response would be on a 2ND round of stimuli (really 3rd if you count Bushes 145 or so Billion but who's counting). They are citing the need for this based on the failure of the administration to get the economy to turn the corner.
Before I even go "there". Are they telling us that 787 Billion has been spent? Where did all that money go?
True story: I lost $2000 cash a few years back. it was in a bank envelope and I think I hid it or someone stole it. Regardless, I TORE MY HOUSE UP!.........every book, every page, every cereal box, figurine, I even emptied the entire refrigerator(thought maybe I got hungry while in the middle of my hiding process and set it down.....). Anyway, I felt sick to my stomach for about 2 months. No exaggeration......2 full months! I can't even imagine how I would feel losing 787 Billion. If there was an actual person that was accountable for that money they would have exploded like the guy from the "I won the corvette" commercial a few years back. He/she would be in an indescribable amount of pain from lost and wasted stimuli. Thank the good lord our politicians didn't feel the need to assign someone to have that kind of accountability! Good thinking guys/gals.
In all fairness lets say they can account for all but 1 Billion. Does anyone reading this even know what it is like to have a Billion? (if you answered "yes"to this question I know some fine pieces of real estate, we should talk) A Billion..........If you haven't noticed I capitalize the word Billion in this blog involuntarily.........it is that important, incomprehensible, and ridiculously large of a number. But hey.........it's only money, fire up the printer......what's the worst that could happen.........China only owns us on Paper.....
Friday, July 17, 2009
Monday, July 13, 2009
Borrowing from Peter to Pay Paul.......
So I have a little bit of a problem with our 787 Billion dollar stimulus. And no, I am not going to bore you with the usual
1"we are passing on debt to our grandchildren"
2"inflation from printing all this money is going to come back and bite us in the you know where"
3"All we are doing is bailing out the people who got us into this"
Nope, I am not going there, although, I guess in a literal translation I just did. My real problem is as follows:
We got into the current mortgage, housing and economic mess that we are in today because of greed. That is easy.........you could securitize a bag of dog sh*^ and investors would have jumped all over it if they were getting a solid 7% return on their money. Never looking, or in this case smelling, what it was that they just purchased. Okay, that is all Econ101. What gets me is our government decides that it is a good idea to borrow money we do not have to fix the problem. For those of you that don't understand the gravity of that statement let me sum it up as simple as possible:
1. Our government is spending money we do not have(aka borrowed) to curb a crisis that was started by our citizens spending money we did not have and had no way of paying back (aka borrowing or mortgaging)
Does that not strike anyone else as a horrible idea and a catastrophe waiting to happen. If this was 2006 I could see the rationale. Afterall, ignorance is bliss. But we are talking about AFTER the fact. Just to beat a dead horse let me put this in story form:
a child is hit by a car after crossing the street and not looking both ways first. don't worry the child is okay. In fact the parents sat through the bandaging, stitches, an other procedures all the while shaking their finger that you need to look both ways before crossing the street. Then the parents go to bring the child home, walk out of the hospital and cross the busy street without looking both ways. Can anyone guess what happens next?
Isn't natural selection supposed to kill off animals like us?
1"we are passing on debt to our grandchildren"
2"inflation from printing all this money is going to come back and bite us in the you know where"
3"All we are doing is bailing out the people who got us into this"
Nope, I am not going there, although, I guess in a literal translation I just did. My real problem is as follows:
We got into the current mortgage, housing and economic mess that we are in today because of greed. That is easy.........you could securitize a bag of dog sh*^ and investors would have jumped all over it if they were getting a solid 7% return on their money. Never looking, or in this case smelling, what it was that they just purchased. Okay, that is all Econ101. What gets me is our government decides that it is a good idea to borrow money we do not have to fix the problem. For those of you that don't understand the gravity of that statement let me sum it up as simple as possible:
1. Our government is spending money we do not have(aka borrowed) to curb a crisis that was started by our citizens spending money we did not have and had no way of paying back (aka borrowing or mortgaging)
Does that not strike anyone else as a horrible idea and a catastrophe waiting to happen. If this was 2006 I could see the rationale. Afterall, ignorance is bliss. But we are talking about AFTER the fact. Just to beat a dead horse let me put this in story form:
a child is hit by a car after crossing the street and not looking both ways first. don't worry the child is okay. In fact the parents sat through the bandaging, stitches, an other procedures all the while shaking their finger that you need to look both ways before crossing the street. Then the parents go to bring the child home, walk out of the hospital and cross the busy street without looking both ways. Can anyone guess what happens next?
Isn't natural selection supposed to kill off animals like us?
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