< This ratio has to be worked off before our economy can recover.> in a viable functioning economy that may be true but in the current barely functioning one that is a luxury that is not acheivable. This isn't about trimming the sails on the ship of state or making a course correction. This is the titanic and it has hit the iceberg and going down. The fight is to keep it afloat by all means possible.
-----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of Nicholas Geti Sent: Saturday, 31 January 2009 8:44 AM To: ProFox Email List Subject: Re: [OT] Obama Gives Keynes His First Real-World Test Please explain to me how borrowing a trillion dollars and spending it is going to help us. The average bank and stock firm have leveraged themselves 30:1 over the past ten years. This ratio has to be worked off before our economy can recover. Just adding more spending on credit makes the ratio worse. Spending on this scale means waste. If one is going to borrow, then spending should be put on investments that can grow and create more wealth. Things like roads, bridges, and manufacturing. Not just pay people to show up and collect a handout. A second situation leading to waste is the lack of oversight by Congress. The executives on Wall Street have taken 18 Billion dollars in bonuses in 2008. How can they justify that when on the other hand their companies got billions of dollars in TARP money. If my IRA retirement as well as others, have been cut by 50% I don't get a bonus. Neither should they. They are the ones that contributed to the economic mess and don't deserve any pay at all. They should be fired. It is time for Obama to ask them to return the TARP money. [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
