Jan 05 2009
Bailouts and More Bailouts
The New American Reserve Fund
With the subject of bailouts continually flooding every news network and internet site of late, it’ been hard to keep track of just exactly how many $700 billion + packages we are planning to crank out in the near future.
Some say that the national debt has grown by 6.4 trillion in the last few months while others say it’s more like 8 trillion. Whatever the real number may be, I would certainly like to know why the public doesn’t have the right to vote on it.
How is it that the government can take our money, and as much of it as they deem proper, do what they wish with it, and then fail to publish the grand total or the amount of money being printed? Is anyone even aware of the gross level of overspending that is going on, or what the consequences for it will be? The answer is as close as the nearest history book.
Dumping money into the economy in this way didn’t help out during the great depression. In fact, according to most economic historians, it extended it. The rest of the world during that time suffered a standard economic depression, taking far less time and dealing significantly less damage than that of the American “Great” Depression. Why? Because they didn’t try any socialist methods to “stop the momentum of this economic downturn.” Because Americans used public money to fund unprofitable businesses in a futile attempt to get the ball rolling again.
The problem with the American strategy-take notes here, Washington-was that the businesses being bailed out WERE STILL UNPROFITABLE! Hard to believe, I know, but it’s true. They just sucked down all that extra money and nothing really happened. And if you can believe it, people and businesses used the bail out as an easy excuse to grab as many taxpayer dollars as they could get their hands on. That reminds me, has anyone heard about American Express opening up hoardes of local banks across the country? I’m sure that’s just a coincidence. Really. I mean, these days we have our histories to look to for guidance. All we need now is for a politician to actually read them and we’re rock solid. …Ah crap, who are we kidding? We’re toast.
hence the main reason I’m a libertarian.
I’m with you skw. Although I am still a registered republican, the values and policies of conservatism seem to be lost to the party. If I thought that my vote would truly count toward victory, I would simply vote for the best candidate each time-and it usually wouldn’t be a republican or a democrat. It’s frustrating to know that these two oversized parties dominate the political scene as they do.