Tapsearch Com EditorEconomic Stimulus and Federal Reversed (LINK)
February 9th 2008 19:44
Bizarre Politics Reports:
Federal Reserve now Federal Reversed
As noted on previous posts, Federal Reserve Chairman Ben Bernanke testified before Congress that people should spend their economic stimulus money on "domestically produced" items and using it to pay down credit card debt would be a "negative".
The newspapers now tell us more. On the front page of the business section in our city's newspaper, they give a comparison between The Indulgent and The Frugal.
The Indulgent will stimulate the economy by buying clothes, vacations, appliances, latest gadget, big screen TV, luxury goods, a night on the town or toys - supposedly. However, very few of these things are made in the USA and taking a vacaction outside the USA would be a "negative" too. So, shopping may not be the way to go either.
The Frugals could pay down credit-card debt, pay down the mortgage, give to charity, help a family member, buy only necessities, make some home repair or pay college loans. These are good things but they are a "negative" as far as reviving the economy. Bernanke says to shop USA and not pay down debt.
Jetting off to Mexico or buying products made in China won't do much for the U.S. economy.
However, none of this is new. If Alan Greenspan, the Clintons and the Bush family talked like Bernanke years ago instead of proclaiming false prosperity, there would be no need for the economic stimulus package today. Hurricane Katrina in New Orleans exposed an underclass who were living in a silent depression for years with the same scenario repeated throughout the USA. The silent depression was a silent event. Very few major news channels reported it.
I bet many will use the economic stimulus money to pay their property tax so they can stay in their homes for a few more months. This is what it has come down to.
The Federal Reserve Chairman now says buy USA. Where was the Federal Reserve - or should we now call it the Federal Reversed - when all the free trade agreements were being passed. Their economic indicators left this out of the picture. They denied the power of regenerating our economy with local value added economies. They fostered spending money on imports. The money rushed out of the country this way for years.
Perhaps, people can pooled their money together to buy a few more assembly jobs. So far, we have paid more than a billion dollars to about five foreign auto assemblers to build their assembly plants in the USA which created only about 12,000 assembly jobs. Compare this to the recent lost of 20,000 auto parts manufacturing workers in just Indiana alone!
Perhaps, we should go all the way and pay the Chinese to open more direct factory stores as they have in New York city. This way they can cut out the middleman - like Wal-Mart.
COSCO shipping containers full of imports roll across our land with this giant shipping company owned in part by the Chinese Liberation Army. We may as well accept our "liberation" now.
The economic stimulus package will not stimulate much in the American economy and we all can't go to work for the credit card industry. Even these companies outsource their jobs. According to the Associated Press and the LA Times, about 38,000 have lost their jobs in the mortgage industry in 2007. These jobs were outsourced they just evaporated.
Welcome to the New World Dis-Order!
Your Window to the Global Economic Arena with Tapsearch Com Bizarre Politics Top Sites and Articles
The newspapers now tell us more. On the front page of the business section in our city's newspaper, they give a comparison between The Indulgent and The Frugal.
The Indulgent will stimulate the economy by buying clothes, vacations, appliances, latest gadget, big screen TV, luxury goods, a night on the town or toys - supposedly. However, very few of these things are made in the USA and taking a vacaction outside the USA would be a "negative" too. So, shopping may not be the way to go either.
The Frugals could pay down credit-card debt, pay down the mortgage, give to charity, help a family member, buy only necessities, make some home repair or pay college loans. These are good things but they are a "negative" as far as reviving the economy. Bernanke says to shop USA and not pay down debt.
Jetting off to Mexico or buying products made in China won't do much for the U.S. economy.
However, none of this is new. If Alan Greenspan, the Clintons and the Bush family talked like Bernanke years ago instead of proclaiming false prosperity, there would be no need for the economic stimulus package today. Hurricane Katrina in New Orleans exposed an underclass who were living in a silent depression for years with the same scenario repeated throughout the USA. The silent depression was a silent event. Very few major news channels reported it.
I bet many will use the economic stimulus money to pay their property tax so they can stay in their homes for a few more months. This is what it has come down to.
The Federal Reserve Chairman now says buy USA. Where was the Federal Reserve - or should we now call it the Federal Reversed - when all the free trade agreements were being passed. Their economic indicators left this out of the picture. They denied the power of regenerating our economy with local value added economies. They fostered spending money on imports. The money rushed out of the country this way for years.
Perhaps, people can pooled their money together to buy a few more assembly jobs. So far, we have paid more than a billion dollars to about five foreign auto assemblers to build their assembly plants in the USA which created only about 12,000 assembly jobs. Compare this to the recent lost of 20,000 auto parts manufacturing workers in just Indiana alone!
Perhaps, we should go all the way and pay the Chinese to open more direct factory stores as they have in New York city. This way they can cut out the middleman - like Wal-Mart.
COSCO shipping containers full of imports roll across our land with this giant shipping company owned in part by the Chinese Liberation Army. We may as well accept our "liberation" now.
The economic stimulus package will not stimulate much in the American economy and we all can't go to work for the credit card industry. Even these companies outsource their jobs. According to the Associated Press and the LA Times, about 38,000 have lost their jobs in the mortgage industry in 2007. These jobs were outsourced they just evaporated.
Welcome to the New World Dis-Order!
Your Window to the Global Economic Arena with Tapsearch Com Bizarre Politics Top Sites and Articles
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