Quote:
Originally Posted by 427 S/O
Correct me if I'm wrong, when fed. mac, fan. mae and the investment banks got billions. Was it not for failed mortgages?.
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Yes, TARP was supposed to be Troubled Asset Relief Program. And the "troubled assets" were clearly defined as mortgages and mortgage related assets,
Didn't that work out well?
$350,000,000,000.00 was flushed down the chute. Now another $350,000,000,000.00 is following into, "Who knows where." To be soon followed by $819,000,000,000.00 of nearly pure PORK.
Government actions may slow or speed the economic recovery, but without a Gov. move of any kind, the economy will EVENTUALLY turn up again.
WHO feels, how much pain, and for how long, is the only change that Gov. maneuvers will effect. And THEY don't know who/how will be affected.
But the Government involvement now, INSURES, WITHOUT QUESTION, that 20 to 25% INFLATION will come with the economic "recovery[?]"
In the middle of 08, our National Debt was around $9 TRILLION. An obscene figure that took over 200 years to "accomplish!"
By the end of 09, 1.5 years, that number is likely to be at OR ABOVE $12 TRILLION!!!!!!!!!!!!!!
A 33% INCREASE IN A YEAR AND A HALF.
Gives us a new description of "insanity" doesn't it?
Dan