Economic Rescue Cost $7.2 TRILLION and Counting
December 30, 2008 1 Comment
$7.2 trillion is the current price tag of the economic bailouts so far. This according to a CNNMoney.com article which can be found, here. This figure includes $1.6 trillion spent under the Term Auction Facility, started in December 2007. No that is not a typo. The year 2007! Contrary to what the Bush administration has been telling us, this “crisis” did not just manifest itself just prior to the election. Given that these repeated government interventions have failed to magically make the economy grow, I suggest we try having free markets instead.
The history of government making money for us is not a great one. Why do we put our faith in political leaders in DC to “secure” our economic future? Given that we are now spending trillions of dollars, the concept of spending just $1 billion seems quaint. Still, this video entitled “What’s in a Billion?” is instructive.
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Actually what is a trillion dollars or two in our society ? I can answer that if you can answer this? If .00 is of no value whatsoever! Then why do zero’s behind other numbers make the value of that number higher in value? It is all a numbers game. The dollar has absolutely no value except fo the paper it is written on. It is same as the technology stocks when they went out of sight during the stock market technology rave !
The actual value is not there per say! But, so these high faluting overpaid stockbrokers, bankers and corporate ceo’s can account for their ignorance per say of their greed. They must show in one way or another that they are bringing value to the family household! When in all actuality; it is just making fat cats fatter! Now if the average American would stay out of Banks, the stockmarket and do not deal with the mega-corporate world; we would not see that 0′s behind other numbers would not be so inflationary as they are. Because the fat cat bankers would have to adjust their rip off of the working class American. And in all honesty, money should not be a commodity to be traded !
MONEY has replaced the BIBLE in business and many homes! But in other homes the bible comes to the forefront only on the Sabbath day. Use the almighty dollar with discretion. Remember this; if Washington DC would use the BIBLE more often than economics; we would not see the rescue pacage needed!