Oh yeah baby! Look at those numbers! They're getting smaller and smaller each day! And no I'm not talking about the "stimulus" package.
Thank you Congress. You have once again proven your ability to ignore both common sense and the American people. You passed a BIG bill. So big in fact that few if any in Congress actually had time to read the bill before it was passed.
But the market never lies. The market expressed it's feeling about the ability of Congress to act wisely. Basically the market gave Congress the raspberries. A nearly 300 point loss is nothing to sneeze at. But hey Congress didn't have any trouble spending 3/4 of a trillion dollars that we DON'T HAVE.
Our government has really lost touch. Better start digging a hole for your money. It's the only safe place left.
Tuesday, February 17, 2009
Friday, February 6, 2009
Construction phase II
You may have noticed the political tirades of my recent posts. If you haven't figured it out, I've had it with our government. So I'm going back to one of the original reasons for starting this - our project(s).
Phase II has begun. In this phase we've gutted the main bathroom and blown out the wall between the bath and Vicki's new room. We will be putting in a roll-in shower, heated floor, and a track lift to get Vicki from the bed to the bath.
Here's a glance at the last bath and it's current state of "guttedness."
Phase II has begun. In this phase we've gutted the main bathroom and blown out the wall between the bath and Vicki's new room. We will be putting in a roll-in shower, heated floor, and a track lift to get Vicki from the bed to the bath.
Here's a glance at the last bath and it's current state of "guttedness."
Stop the Bleeding II
They just don't get it. Billions or trillions it doesn't seem to matter.
The "stimulus package" is nothing more than the appropriations bill that is passed in every congress. Well actually it is something more. It has a LOT more in it and it has been spun so many ways the words are falling off the pages of the bill.
The new prez is now ticked because the love fest he received during the campaign is now turning hostile. His critics are saying that throwing all this money down the toilet is a bad idea. After all a LOT of the bill is not stimulus at all, but pet projects that involve *government* facilities and programs.
The prez thinks "If we do not move swiftly to sign [the act] into law, an economy that is already in crisis will be faced with catastrophe," he said.
Here's one more example of really backward thinking by our new 'savior of the world.' Doing SOMETHING even if it's a really bad idea is better than doing nothing.
Let's make that personal. My kid needs a new pair of shoes. He doesn't have the money right now. I'm going to "stimulate" his economy by getting him a credit card. After all, what kind of a father would I be if I didn't get him new shoes. Let's say he's fairly responsible with that card and finds a pair of shoes for $100. No big deal right? It's only $100. Since he doesn't have any money he can't pay the bill for 6 months. After six-months the $100 grows to $117 with interest ~ 17% more.
He gets a job taking care of the neighbors cat for a while. He gets his $117 and pays the bill. Case closed, no harm, no foul right? Wrong. He LOST $17 because I "stimulated" his economy. The actual money didn't hit the economy for 6 MONTHS. There was no stimulation and my sons shoes cost him more than they should have.
Go back to the billions and trillions of dollars. Give the people their $1,000 checks out of money WE DON'T HAVE (i.e credit). Add a simple 17% interest and you have $1170 for the $1k check.
Again no big deal right? Wrong. First of all that's 17% simple interest. There's no such thing when it comes to debt. Your interest will be more than that if you don't pay the bill. And now we multiply the $1k check by 100,000,000 (a rough estimate based on 300 million Americans. Now we have 100 BILLION dollars in "stimulus." Add the interest and we have $1.7 BILLION dollars in interest alone. And that assumes it gets paid off immediately.
Remember now, that money isn't real. It will come from "deficit" spending - borrowing money we don't have. The interest alone will be difficult if not impossible to pay back - not to mention the principle.
I have 1.7 billion reasons to disagree that doing "something" is better than doing "nothing."
Good bye America, it was nice knowing you.
The "stimulus package" is nothing more than the appropriations bill that is passed in every congress. Well actually it is something more. It has a LOT more in it and it has been spun so many ways the words are falling off the pages of the bill.
The new prez is now ticked because the love fest he received during the campaign is now turning hostile. His critics are saying that throwing all this money down the toilet is a bad idea. After all a LOT of the bill is not stimulus at all, but pet projects that involve *government* facilities and programs.
The prez thinks "If we do not move swiftly to sign [the act] into law, an economy that is already in crisis will be faced with catastrophe," he said.
Here's one more example of really backward thinking by our new 'savior of the world.' Doing SOMETHING even if it's a really bad idea is better than doing nothing.
Let's make that personal. My kid needs a new pair of shoes. He doesn't have the money right now. I'm going to "stimulate" his economy by getting him a credit card. After all, what kind of a father would I be if I didn't get him new shoes. Let's say he's fairly responsible with that card and finds a pair of shoes for $100. No big deal right? It's only $100. Since he doesn't have any money he can't pay the bill for 6 months. After six-months the $100 grows to $117 with interest ~ 17% more.
He gets a job taking care of the neighbors cat for a while. He gets his $117 and pays the bill. Case closed, no harm, no foul right? Wrong. He LOST $17 because I "stimulated" his economy. The actual money didn't hit the economy for 6 MONTHS. There was no stimulation and my sons shoes cost him more than they should have.
Go back to the billions and trillions of dollars. Give the people their $1,000 checks out of money WE DON'T HAVE (i.e credit). Add a simple 17% interest and you have $1170 for the $1k check.
Again no big deal right? Wrong. First of all that's 17% simple interest. There's no such thing when it comes to debt. Your interest will be more than that if you don't pay the bill. And now we multiply the $1k check by 100,000,000 (a rough estimate based on 300 million Americans. Now we have 100 BILLION dollars in "stimulus." Add the interest and we have $1.7 BILLION dollars in interest alone. And that assumes it gets paid off immediately.
Remember now, that money isn't real. It will come from "deficit" spending - borrowing money we don't have. The interest alone will be difficult if not impossible to pay back - not to mention the principle.
I have 1.7 billion reasons to disagree that doing "something" is better than doing "nothing."
Good bye America, it was nice knowing you.
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