The following is written by one of my favorite writers, my very wise husband:
Enough is enough. You have had your fun, but this little game of continuing to deceive is becoming tiresome. The economists have good points, but let's cut to the chase here and get the extemporaneous stuff out of the way. You have [just] realized that our economy is in trouble, yes. You have [just] realized that many large financial institutions are not going to survive, yes. You have noted that the demise of these institutions will have dire consequences on the general well-being of the economy, yes. Your answer (solution) to this crisis is to throw a significant amount of taxpayer dollars at it. Go on, admit it. The only point of contention is how many of these ill-fated dollars each of you are willing to have your names adhered to in case this fails. Otherwise each one of you wants to throw money at it and hope it goes away until you are no longer in office.
Let's examine the mechanics of this mess for a moment. The real problem is older than most Americans know. It is more pervasive than you have allowed Americans to understand. My dear Congress, remember when this country had it own factories for the products we consume? What happened to those?
Ok....we all know what happened to them, but I need you to think about why it happened. Why did we move our manufacturing capability to other shores? What sane society would get rid of the employment structure its own citizens need to buy the products they produce/need? Never mind, we did it and that's history, but why? What could we fill the income gap with since we became a country that stopped producing products to sell? Good idea! We’ll make money a product itself and sell that, along with various services, for a profit.
Problems right out of the chute. We must grow our economy without pause because we get most of our money from a cartel of big banks that control our money supply. As we all know, we borrow this money (at interest) from the Federal Reserve. [For all you folks that don't quite understand that there is never enough money in existence to cover the interest on the money already created, I can explain that in a sidebar] Take my word for it that the economy has to grow because the money supply has to continually increase in order to cover the interest on the money being borrowed. Since [ALL] our money is "borrowed" into existence, this mechanism is very key to the stability of the entire system.
At this moment, the keener among you should have just noticed a paradox in reasoning. As in the boat example with the apple, the more money that is created, the less it is worth. Even in good times, the system does not hold up to logic and will implode over a period. However, and remember, your solution to the problem at hand is to inject $700b (to start) additional money into a system that is already bloated with overpriced assets. Am I the only one that can see why this will not work? It’s insane! Another paradox for the truly gifted among you is the fact that the Fed has managed this crisis from the beginning. However, it is their lane in the road that includes managing the money supply. The more we have to borrow, the more money they earn as a corporation of banks, yet, they are leading the charge on fixing this problem. The fact that they are encouraging this injection of capital into the system cannot be dismissed. However, we have to borrow that $700b from them and that little detail fails to get mentioned.
So Congress, if you really want to solve this problem, get rid of the Fed.
Take the constitution of this country out of the mothballs, dust it off, and get back to your responsibilities stated therein. Otherwise, shut your collective mouths and get ready to preside over the world's newest third world country.
A Concerned Citizen
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