Thursday, September 25, 2008

$700 Billion

Okay, I have been listening to a lot of talk over the last several days. Last one night last week, a bunch of fat cats met in a back room, and they came up with a plan to save the US economy. Put this in perspective. If you wrote a digit per dollar on a piece of paper, one thousand of them, turned the paper over and then wrote another 1,000 digits on the back, you would need another 349,999,999 pieces of paper to make 700 billion digits. 700 billion is a lot of money. And the people cobbling together the plan either are lobbyists or are elected officials. I am sure these people can't do anything wrong with such a complex issue. Lucky for us, they don't have any hidden agendas. Lucky for us.

The price of my home has gone down more than 10 percent over the past year. No big deal. I still make the payments. My investments have gone down more than 15 percent over the past year. Gas prices have gone up a bit over the past year – twenty or more percent, I would guess. Food prices are up double digits as well.

So we will be spending $700 Billion on whatever. Golden parachutes, I suppose. Investment bankers' trust funds. Whatever. Yeah, I know. This may stop my investments from going south. Maybe. I mean, these fat cats without hidden agendas, they know best. Right?

10 comments:

Knot said...

Yep, that sums it up. People are stupid so people like us have to bail them out instead of letting them flounder like we should and sending them to jail.

Knot

Leesa said...

knot: and they can send a portion of the bill to your house, right?

QUASAR9 said...

Yep golden parachutes -
can't have $700 billion to build affordable housing
but can have $700 billion to prop up house prices, to subsidise construction companies (and their shareholders) and bail out bad investments whilst making bad investors richer.

As for your home value being down 10% and your investments being down 15% - you are obviously small fry. This is aimed at bailing out those losing the most, not the middle classes or the 'working' classes. But hey I guess when everythng is going peaches everyone loves the american way - the downside is when everything is going pear-shaped, it is every man (or woman) for himself/herself.

And those with the most stand to gain most - as ever. Nothing changes really. You really can fool most people most of the time, and all of the people all of the time. or at least they think they can

btsea said...

When all is said and done...the fat cats will still be fat!

Joe said...

This is the same president who vetoed a health care bill for the poor because the American people can't afford $7 billion.

But yes, I'm not sure what terrifies me more, the meltdown of the banking industry (brought on by their own greed) or our elected officials trying to save the day.

Ian Lidster said...

Scary, ain't it? And, it's all about greed at the upper levels and the rest of us get screwed over -- again.

Anonymous said...

First off, I am not the rude
"anonymous" that left nasty posts while you were gone. I like your posts and most of the audience that spurs you on.
This topic of 700 billion must somehow force us to realize how very much we are all connected on this planet.
We cannot deny poor people an education and health care and think the rest of us carry on unaffected.
Likewise, high financiers cannot stuff their pockets because of lax rules and oversight and think the rest of us wont feel it.
Jails are full of people who have committed petty crimes compared to $700,000,000,000.00 + that was just lifted from you, me and our children.
What really irks me is the high profile effort being put into "fixing" this. Isn't this where a story about a fox and a hen house came from?
Before the trail goes cold, collar these crooks, get the money back, and pass out prison time based on how much you took. Free the petty criminals that have not put all of us in jeopardy like this heist has.
I think about the talent within this country and how this whole mess has dampened our spirits.
Leesa, thanks for the vent.
Sorry all for the weight of this post. I'm a tad pissed.
Now back to erotica!

btsea said...

Remember the days when most people were satisfied with 5-1/4% interest at their bank down the street?

Leesa said...

quasar: I said something more important about this today. Please read.

btea: how can I be a fat cat?

joe: most states are helping the poor children with healthcare - healthcare is so damn complex. There are lots of moving parts at work. Hard to explain in a sentence.

ian: I thought you were from Canada.

anon: being dumb and greedy is not a crime. I think people get elected with those traits.

btsea: yeah, I remember those days. Now everyone wants a house to go up by 6% per year.

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