Please celebrate with me:
FED will pump a total of $480 bn into US economy to help ward off yet another crisis precipitated by the same government that put us in this situation in the first place. Case in point: the POTUS (President of the United States) appoints the Chairman of the SEC. You know, the person who is supposed to oversee our financial markets and make sure that what just happened doesn’t happen. Or maybe SEC chairman will look the other way because the person who appointed him told him that there was too much regulation in the market already. The same POTUS and Vice POTUS met with oil and gas companies behind closed doors to discuss energy policy (US has one??). Look at the price of gas.
Like John Snow saying outrageously insane things back in 2005 when he was Secretary of Treasury, such as: no, we are not in a recession. You think?? Really?
Like the “white hair dude” (McCain for those who don’t listen to Paris Hilton) saying just two weeks ago:
“The fundamentals of our economy are strong.”
Hm, Ok? So, why am I not part of YOUR world?
Maybe, in your world, everything is better.
I live on planet Earth. Halloâ€¦ Houston, we have an imposter.
Well, wait, McCain DID admit he didn’t know about economy as much as he should have. So, he is not an imposter, he just has no clue.
Luckily for us, God forbid he died, there is pit bull with lipstick to take his place. She KNOWS everything: including who killed dinosaurs and why, who should and who should not work for Alaskan State Troopers, she can see Russia from her house, and all the other things such as how to kill a wolf from an airplane. Hey, let’s send her to Iraq; she’d be a great sharpshooter.
Hold on, we can’t send her there. We are getting out of Iraq, right. We are? For real? One of these decades? We managed to ‘spread democracy’ so now they are self sustainable. We begged everyone to forgive Iraqis over $70bn in loans, and I wonder: is it because we feel guilty for f***ing up their country, or because we want Iraqis to keep giving us, pardon selling us their oil.
Who will forgive us our debt? Who will beg for us? Who will beg for $9.7 trillion or almost $32,000 per US resident?
Who will bail out GM when that company files for bankruptcy? GM Chairman and CEO Rick Wagoner unveiled Chevy Volt as THE hope for turning things around at the biggest of the Detroit Three the other day.
I have no heart to tell him, so would one of you do it:
He is 15 years too late with that plug-in idea and at least six more years too late with production: we should have had this one at least three years ago. Volt won’t be coming into serious production until three years from now, and even then â€“ it won’t make any money. You don’t need to have an MBA in Finance to understand the following:
Already heavy in debt and oozing money from all holes + producing a product that won’t make you any money = insanity + bankruptcy + lost jobs + another crisis
This current $480 bn bailout will cost us â€“yes correct, don’t celebrate Bush administration; we are paying for it; $3200 a year. It’s simple: you take 300m people living in the USA, deduct 50% as unemployed, children, retired, etc. and you end up dividing $480bn with 150m people = $3,200.00. in addition to everything elseâ€¦
Please celebrate with meâ€¦