Thursday, November 13, 2008

The Slippery Eel That Is The Economy

With each day I read the tea leaves in the bottom of my teacup and instantaneously I have a panic attack. I don’t know about you, but this is not looking good at all. The Stock Market is not my barometer as to what the economy is doing, but it is never far from wrong. I check the reports from Wal-Mart to get an indications of where the country is going – don’t laugh! Think about it, if Joe the Plummer isn’t buying the best that he can purchase for the lowest price that he can find, Wal-Mart is where he will be for the best price.

When the Republicans decided to give away the money in the bank, where did it show up in the realm of economical statistics – within the stats put out for Sachs-Fifth Avenue that Christmas. Sachs had a seasonal increase of five percent in sales while Wal-Mart had a decrease of one point five percent. Clearly those that have the money will spend it, and predictably so in the places where it is indicative of who is spending of the money. Rich guys don’t go to Wal-Mart!

Secretary Paulson and the SEC guy – Christopher Cox have said with emphatics that they need ‘Bailout’ money to buy the bad debt from the banks and make the world start to go around again. Noticing that the world has not started to go around as predicted since we gave those two ‘hamburglers’ the money, I have to wonder if they really intend to give banks any money. On yesterday, Henry Paulson said as much. With seven hundred billion dollars of our money that he promised that he would spend a certain way that we all thought would be the right plan as stated by them, this guy is suppose to be doing what he said he was going to do. But he isn’t and he is telling us that he isn’t going to do what he said he was going to do – to boot.

Hank Paulson and his department are blowing the money and we are all watching as these guys do it. No money is getting to Main Street. No money is being used to take the toxic debt away from the banks. No money is going to people that want to make loans. Money is going to all the wrong people… shareholders, to finance the buying of other banks, to banks that don’t even want the money, and to, of all people, AIG. Why is the Bush administration allowing this BS to continue without complaint? Why isn’t Congress lamenting this gross misuse of government funds for frivolous crap?

Well, you have been placed on ‘Red Alert’ regarding this issue and as usual no one will shout out to their Congressman about this until it is too late. When Congress comes back to ask for another trillion to rescue the banks, you will know that you have been robbed by a sly slick criminal while you watched daily!

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