Wednesday, March 18, 2009

Reading and noodling

I read with interest the reports of the vilification of AIG executives by congress today. Too funny......first they give with no strings attached 170 Billion,(with a B), dollars to them.....and now they all have their thongs in a wad because AIG paid contractually obligated bonuses amounting to 165 million (with a m) to some of the idiots who got them in a mess to begin with.

If you haven't stopped to do the math, that amounts to .00095% of the original 170 Billion (with a B) dollars they were given by our, oh so prudent, elected servants in washington.

Hardly seems worth all the effort. Sorta makes me wonder what they are hiding behind all this manufactured outrage.

Again reading.....I was not surprised to learn that the wonderful Federal Reserve, today took the following action.......

The Federal Reserve on Wednesday said it would buy $300 billion in longer-term Treasury bonds to help arrest a deepening slide in the U.S. economy, a surprise move that sent stocks soaring and triggered violent moves in other markets.

The Federal Reserve's move, one of several actions taken Wednesday aimed at making it less expensive to borrow money, signaled it will boost the size of its balance sheet to more than $4 trillion. Today's moves double the amount of money the central bank has poured into the economy to try to stimulate economic activity.

In redneck talk what that means is that the Federal Reserve created $300 Billion (with a B) out of thin air and gave them to the government in exchange for the governments promise (as witnessed by elaborate and fancy pieces of paper with a seal upon them) to repay the aforementioned newly created money back over a period of time to include interest, to the Federal Reserve. Money which the government cannot create out of thin air and will therefore have to take by force of law from the workers and producers (those who will be left) in the form of taxes, tariffs and confiscations. Further legally obligating yet unborn citizens of this once Republic for generations to follow.

This must be a good deal for someone........right?

As I further noodle......I realize that my hope of somehow stimulating reasoned discourse here is futile at best and laughable at worst. After 30 years of attempting to influence someone other than myself, I realize that I'm spitting into a hurricane......all I'm doing is letting the wind blow it back in my face. My handkerchiefs are beginning to only smear it around.

There is probably a good reason the VA plies me with various and sundry drugs and therapies.

So I'll shut the fuck up and let people get on with their lives.

A noble undertaking if true.

Maybe I should listen to them..........on the other hand maybe I'll just listen to the ringing in my ears.

I'm going to take a couple of Aleve now.......maybe I'll call them in the morning if I wake up.

UPDATE: Increase the $300 Billion to $1 Trillion (with a T) all created out of thin Air nothing to back it, no wealth created, just electronic entries in a computer somewhere. Our Great Grand Children will speak of us with curses on their lips.

No comments: