What the fuck does bicycle paths, tax breaks for race-track owners, for rum imported from Puerto Rico, or
I know its just me, but I never saw what these political bills, let alone 700 billion dollars (which will likely be 900 billion - a trillion) can do for the national or the global economy. Throwing money away has never been the solution for anything. They are still throwing them at bad assets. Banks all around the world are failing. These folk so myopic and ill-informed that they aint even see the chance that asset markets would possibly close one day, especially given that lenders were the one who distressed the value of the paper they held. Its cool if u got loot, or capital, but most folk now days have less than 5% capital, or liquidity on hand compared to back in the day when folks had at least one dollar for every dollar loaned.
Federal policies created this, no matter what folks say, for with out them, folk who could not afford to buy a house with zero down would have never got them – and the truth is the banks and financial institutions lobbied for these changes.
But yawl don’t hear me though. Lets look at the world around us. The Turkish government issued new Turkish lira banknotes and this past Friday. This recapitalized of its banking system included tighter regulation under a $10 billion IMF-backed lending. And we finna have a new currency standard in a few for I wont be surprised if the dollar will be 60 cents to the Euro by the endo of the year.
All I am saying is that stability of the dollar is paramount in any economic solution to this current mess; I see a secular decline in credit just as what happened in
We really have not had a loss in capital across this great nation, that is not the issue, but we have not had any gain in capital - that is the problem. To solve this conundrum means we have to gain more capital. Tell me how we do this Jones, fuck the dumb shit, we are thinking and breathing Americans and I say we at least deserve that. You cant take money from the private sector (as the government is doing when they take over and bail out banks) and give it back to the same said private sector. To me that is just like rearanging the furniture in your house. The 700 billion wont do jack, businesses on wall street or in the stock market dont make money unless people spend money or have money. Shold have gave it to the common person. Add to that we only have fiat money, no money of real value, in the 1930s we had real money which was on the Gold standard, and after the early 70s, no longer is our money based on the gold standard. We just print money and throw money at the problem as if it is the answer. All our politicians are doing is stopping the bleeding so the patient don’t die, or worse, just re-arranging the furniture in the house. vote