New Obama plans: ‘spend our way out’ of downturn
Obama outlines new stimulus and jobs plan, says US must still ‘spend our way out’ of recession..[/quote]
Like Obama came up with that. That IS the predominate economic ideology of all of the economic academics in the banking industry and ivy league schools. Which all rotate in and out of washington and wall street, profiting nicely from all there policies. That is all they know.
The funny thing about this windfall is that it’s all printed money from Fed MBS purchases.
It’s like Ford not being able to sell a cars and coming and borrowing money when on the verge of collapse then the the government buying up all their products that the market does not want. Then announcing what huge profits they have and how they are paying back the .gov of all the money they borrowed, all while continuing to sell their products that nobody want to a government that all sit in a warehouse collecting dust. Of course, while taking huge bonuses in they interim off of selling overpriced products that nobody wants.
It’s a shell game.[/quote]
Not saying that. Every politician is guilty of this right now.
And you’re wrong. Ford didn’t borrow money from the government. Ford financed their way out of their own mess. GM and Chrysler borrowed, are are still in deep do-do, especially now that the c4c is over.[/quote]
I wasn’t saying you were just pointing out that is the predominate economic ideology in the world.
Also, I was not saying anything about ford just relating wall street finances to a company that makes a real product and the absurdity of “getting paid back” when there is a printing press on the other end doing the paying back.
In reality, we did not get paid back(it was money shuffled around and printed) and the banks are in no better shape today then they were 1 year ago.
The banks borrowed money through congress and then the Fed printed on the other end to pay back. With the purchase of 1.2 trillion in MBSs, which were the products they could not sell and still can’t to any degree that matters.
