On Mon, Jan 12, 2009 at 7:22 AM, Ben Scott <[email protected]> wrote:
> On Mon, Jan 12, 2009 at 10:07 AM, Kent, Larry CTR USA IMCOM
> <[email protected]> wrote:
>> This is more the reality...
>> http://money.cnn.com/galleries/2009/pf/0901/gallery.layoffs_and_salary_cuts/index.html
>
> "I've had to budget everything from food to when I go to the dry cleaners..."
>
> A budget? Heaven forbid. </SARCASM> And people wonder why the
> economy crashed. It's because this entire country -- from this former
> "Media Relations" marketroid to high-level execs (auto industry,
> banking industry, I'm looking at you) -- are not in the habit of
> keeping track of where the money is going.
>
> In the interests of honesty: I'm not excepting myself from the above
> criticism.
>
> -- Ben
1) The government created the housing bubble, using inflationary
tactics. The government has created every major bubble/boom in this
country's history, using inflation in one form or another. References
given if desired.
a) That's what governments do - because they must be seen to be
"doing something" - that's how they get elected.
b) The only way to stop it is to keep their hands off the purse strings
2) The government is trying to inflate its way out of this problem, as
Hoover then Roosevelt did in the 20's and 30's - that's what the
bailouts are, printing money, or going into debt which will never be
repaid. It was disastrous then, and it won't be any more pretty now.
References given here, too, if desired.
a) The bailouts won't work.
b) Make-work programs and extending unemployment benefits won't
work. They just stretch out the pain.
3) Larry Flynt was satirizing the bailout programs. It's *funny*, not serious.
Heh.
Kurt
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