Just go to the New York Times website and read some of the 200+ comments from readers dumbfounded by this action of the US government. I remember my old history teacher, Mr. O'Brian, telling us of post WWI Germany and how the money was left on the street and it was the basket holding the money that was stolen.
I'll cut and paste a few for your perusal;
This is completely crazy- the cure for overspending and excessive debt is NOT more spending and debt!
Pumping all of this cash into our financial system is going to cause hyperinflation!
— Mary, Md.
Isn't it obvious no one knows what they are doing? Nevertheless, they're printing dollars fast enough to guarantee another crisis - a crisis of confidence in the dollar. STOP and THINK!In addition to the brewing dollar crisis, they are guaranteeing a winner-loser scenario in which some of us get bailed out and others do not. I have a lot of losses in my 401K. Will they be replaced? No! My neighbor purchased his house for no money down and, in fact, didn't pay "rent" for a year. They're rewriting his mortgage so that he now owes less money on an "investment" for which he never paid. Best of all, I get to pay for it!
When they bail out GM's pensioners, what will they tell all the people who have lost their life savings? How are people living in small apartments going to feel when they see a documentary about Bill Fuld (lately of Lehmann Bros.) decorating his fourth home.
Doesn't anyone see that the government, in its haste, is about to tear this country apart, person by person, by creating winners and losers? This kind of thing will not go away! Why isn't anyone talking about what the real people are saying? Read the comments on the NY Times website and you will see the escalating anger, frustration and outrage!
— Shane, NE
Why is it that most people I speak to, most people on this posting board (and every other one I read and post to) and most people on "main street" seem to recognize the fundamental flaw (creating credit from debt) with the plan that Washington is pushing (with our tax money), and the likelihood that it will be completely disastrous?And why is it that the only ones who DON'T seem to recognize this spendthrift attempt at resolving the economic issues at hand as absurd are the ones who are trying to "rescue" us?
— James Edin, Chicago, IL
Jim - go check the site. Actually, the New York Times seems to be one of the best news site.
The Dangerous J.
1 comment:
Using real and sourced quotes is strong, very strong. Alcohol weakens everything, as does avarice.
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