It's not a comforting thought, but the next time you hear some Washington blow-hard telling you they know how to fix the economy, think about this-- it's never happened before, ever, in the history of the world. That blowhard is guessing, and he's probably got a vested interest in his own suggested solution. When someone tells you we have to spend all the money there is in our economy for the next 20 years-- basically mortgaging our children's and grandchildren's futures-- in order to "solve" the economic crisis, listen closely. They're making it up as they go along.
Washington watched while all the money in the economy was flushed down the toilet of Wall Street (and Main Street) greed. And now the people who engineered that big flush are telling us we've got to fix it with credit. Americans as individuals can't get any more credit, so now they want the government to pull out the biiiigg MasterCard. Spend us out of a depression using credit.
They say only more free money will stimulate the banks to make loans! What? That's utter crap! Banks make money making loans. If they won't make loans, let them go out of business and rot. Our government has to stop spending to fix the problems caused by over spending in the first place. The banks want us to borrow money to give to them so they can lend us more money at interest! That's Bush logic. Say no! Let a few banks get flushed down. Let some multi-nationals move away. It's going to be tough, but not as tough as it will be when China comes to foreclose.
It's time to say no, people! Wealth is crack! Credit is the basis of the crack economy. The people at the top are going to keep sucking on the pipe until there's nothing left, because that's how addiction works. Deficit spending is borrowing. The Bush administration spent all the money, and now everyone wants the Obama administration to run up the credit card more. Think about it! It's a horrible idea. And exactly who is going to benefit? The rich-- business owners, bankers, Wall Street-- are going to harvest any fruits, right? See how this is working?
They're saying their best advisors told them we have to spend to recover. Ask for the advisors' names. Paulsen? Bernanke? Summers? Who got us into this mess? Wow!
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