Friday, February 20, 2009

Where's The Money?

One of the things I find the most troubling about the current economic stimulus bill is the need to "create" more money so that banks can create more loans to "stimulate" the economy. What happened to the money we already had?
If you follow me, the Bush tax cut was supposed to stimulate the economy by putting wealth into the hands of those people who create jobs, so that they may reinvest said money and create more jobs (or trickle down economics, as it were), so if the people who received these tremendous Bush tax cuts didn't reinvest it in the US, then the money should be sitting in a US bank somewhere, right? And if it's sitting in a bank somewhere, the bank can then loan it out to people, for businesses, and homes, and cars and other things that would stimulate the economy, but since they don't have the money to do this with out creating more and handing it over to them, then where the fuck is the money, Lebowski?
Well, the Pentagon lost trillions of dollars, but that was eight years ago, surely they could have located it by now, right?
Then of course, there's the missing billions in Iraq reconstruction funds , it couldn't just vanish into thin air. Where's the money, Lebowski?
In the past five years, China has bought over $1 trillion in US debt, but what did we get out of it, I mean, besides a slew of damaged, dangerous and tainted products?
In September 2008, $250 billion was siphoned off money market accounts (and out of the US) in a move that precipitated the financial meltdown. All this money has to be going into someone's pocket, but it's not the tax payer. No, they are the ones who are getting stuck with the bill.(Which, BTW, is now at $175,154 per man, woman and child. Now get out there and take a second job, you knuckleheads, and do your patriotic duty. Either that, or spew out more children, to spread the debt around.) It's almost as if the US economy is a giant Ponzi scheme, with fewer and fewer earthlings left to swindle.


libhom said...

It just keeps getting more and more disturbing.

Mike Sylvia said...

It's almost as if the US economy is a giant Ponzi scheme, with fewer and fewer earthlings left to swindle.
There is nothing almost about it, it is a Ponzi scheme. The chumps that think this mess can be cleaned up with magic money are delusional.