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Jan 24 2009

Bailout and Stimulus Madness

096-economy.jpgI don't have time for the quality of post I'd like to put up. So, instead, just some headlines and links along with a rambling comment or two.

Fed Refuses to Disclose Recipients of $2 Trillion

"The Federal Reserve refuse[s]...to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral."
The taxpayers give out $2 Trillion...a sum so huge no person can really, fully, comprehend it...and the Federal Reserve refuses to disclose where the money went. I've written 4 or 5 snide comments and none of them fully capture the insanity of this, so I'll move on.

$1.6 Billion Of Bank Bailout Went To Execs

"Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management."
If the company you run collapses and you have to go on your hands and knees begging to the taxpayers for a handout...more like a truck-load-out...actually closer to a cargo-ship-out...doesn't it make perfect sense that you then reward yourself with some huge bonuses and stock options?

Federal Spending Soars 25% Before Bailout

"The government's spending commitments exploded by 25 percent in 2008, putting taxpayers more than $1 trillion in the hole [each year] even before the astronomical costs of the economic bailout were taken into account."
Ummm...Dear Government...make that Dear A$$holes in Congress...you can't keep doing this. I wouldn't mind so much if my great-grand-kids could travel back in time and shove searing hot pokers in your eyes, but you'll all be long gone when our nation collapses with no way to hold you responsible. I have no words to describe your collective stupidity.

And, finally, these words of "wisdom" from our President Barack Hussein Obama:

"[W]e shouldn't worry about the deficit next year or even the year after; that short term, the most important thing is that we avoid a deepening recession."
Worrying about the short term is what got us in this mess. It's what causes all messes. From CEO's worrying about the next quarter's financial results instead of the company's viability a decade down the line to politicians buying the next election with massive handouts instead of making the hard decisions in the best interest of the nation a generation from now. The only thing that matters is the long term. What would you have previous generations do? That which was best for them in the short term, or that which was best for our nation in the long term?

The most recent, insightful, and academically rigorous research reveals that FDR's New Deal big government only prolonged the Great Depression. Our nation is not great because of our government, it is great despite our government. Our nation is the economic powerhouse of the world because of business. Big business, small business and entrepreneurs the envy of the world, are what made this nation great. Not politicians and government bureaucrats. And, God forbid, certainly not government programs and the stealing from one man to give to another or the shackling of future generations with incomprehensible debt.

The United States government should be slashed on a massive scale. Whole departments eliminated overnight. Department of Education...gone. All hiring stopped. Raises halted. Benefits frozen. The word "entitlements" eliminated...you aren't "entitled" to anything. I've never been in a government office where people work as hard as at small private companies. The entire notion of our government should be reworked. Politicians should be elected who pledge to go to Washington with the goal of accomplishing nothing. At least no harm would be done which is better than can be said about most of what our government does. Seriously, have you ever heard of a single problem brought before Congress where politicians stood up and proclaimed that they ought to do nothing? That should be the most common reaction.

U.S. Stocks Slide in Dow Average's Worst Inauguration Day Drop Socialism has never saved an economy nor been the method by which all can share in the largest pie.

Not that anyone cares or can be pulled away from American Idol but here are some good videos on the whole government bailout/stimulus situation:

Keynesian Economics Is Wrong: Bigger Gov't Is Not Stimulus
Reason on the Bailout

Posted by Don |

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