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It appears that Halloween comes early this year for the rich after politicians approved the “rich people bail out.” I invite anyone to take a look at the bill that was past. It is vague and without definite regulations…just what every rich guy wants. Isn’t it amazing that after AIG received their funds they went out and treated themselves to a spa treatment of over $400k. Of course, that’s pennies compared to what Citigroup did. Not to be outdone, after receiving their $40 billion dollars, they went out and bought the executive, of a failing business I might add, a $45 million dollar private jet. Of course, that was for a job well done…and I don’t mean for Citigroup as a company…I mean for the lobbying done to convince, or should I say pay off, congress to pass the bill. We live in a day and age of exhorbant political corruption where the politicians of this country don’t even try to hide it and have no sham for the money they scam and steal from the people. I have heard people say that to get the economy running again, you have to give it to rich people to spend. I am puzzled by this theory. Rich people already have money and they aren’t spending it. If you truly want to generate the economy, give the money to the poor. They have no choice but to spend it. Not to mention, most poor people do not have the financial discipline that the rich have, or the amenities. So, they will be more apt to go out and buy that new TV, DVD player, etc. than a rich person would. Money given to a rich person, who has everything already, will probably be held until he/she sees the perfect opportunity to invest, and even then he/she would probably not use their own money. Nothing that the government does to stimulate the economy or housing market will help.
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It must run its course. To add to that, let’s be honest why the economy is where it is…politicians, for whatever reason the highest bidder wanted, allowed the housing market requirements to be less strenuous…a lot less. Look at Fannie Mae and Freddy Mac for example. They are “government run” and are belly up like the rest of the companies. Anyway, no bailouts are going to help enough to warrant their negative effects. What negative effects you ask? Well, where do you think that they will get the $700 billion plus (if they do another one) to “stimulate” the rich…I mean economy? Most states are short on income because housing tax income is way down due to foreclosures (nobody to tax if nobody in the home…and banks sure aren’t going to pay any taxes…that is one of the reasons for interest only loans to begin with, but that’s another story). Income taxes are down since unemployment is up…add more people getting unemployment which puts more stress on the state. So, where will it come from? They will print more “currency.” So what…you say. Well, our money is based on a reserve. The reserve doesn’t increase when the politicians print more money…it just lowers the value of our dollar globally. Since we are in a global market, what do you think is going to happen to everything that we buy that is not produced here and that isn’t manufactured with foreign products? It will go up and up in price…especially the necessities. Where are you going to come up with the additional funds needed just to survive? I am sure that most of you are not getting part of the bailout.
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So, what are you going to do to secure your future? Prepare yourself for the worst. To add to this I was reading an article today "Obama argues for stimulus plan before House vote." I realize now why he is so eagar to get it passed. In the article it states, "Obama tempered the sense of urgency in his voice with an observation tha he and corporate leaders 'left our meeting confident that we can still turn our economy around.'" It further stated, "Obama, who met at the white house with the business CEOs, said that people running the companies that are the engine of the American economy are behind him." Why do you think that is??? I wonder who stands to benefit from the "stimulus" plan? I would imagine it would be the "business CEOs" that are running the companies that are the engine of the American economy. I always thought that the "engine" of the American economy was the people. Without them, the engine would not run at all. Further, I think it is more accurate to say that the "business CEOs" that the president met with are the ones steering the economy, and that is why it is in a ditch!
Gone are the days when the homes sold before they were finished being built.
Article by
Brett Duncan-Creger
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