Friday Pisst
I WAS going to copy Graven Images post called 'God Save the Queen' because the Queen of England could do a hellova better job of running the USA than any president in the past 20 years, maybe longer. Please go read it!
Instead I want to ask about this bailout thing that's going on. How's that going to work? Lets see, a lot of the US is running on credit cards, people can't pay their bills, and not paying mortgages, so the banks are going out of business because they're not receiving their money. So the government is going to pass out $700 billion dollars to who? the banks? Why? So the banks can pay their operating costs and stay in business? How is the money going to help the people? Is the bank going to issue more credit cards? Plus, the banks're getting $700 Billion from the government, they'll still go after the people who owe them money. Will they get double money? Or will they forgive debt?
Suppose I pay my bills, I don't have a big debt. But I'm scrimping and saving while my neighbor is spending like crazy, maxxing out one credit card after the other, not earning enough to afford all the stuff he keeps on buying. Pouring his entire paychecks back to these irresponsible lenders with their astronomical interest rates, and not paying his mortgage. Will he be forgiven his debt, and get to keep all his stuff he charged? While I get to keep on making payments? If so, I shoulda been doing the same thing. Every day I got a pre-approved credit card in the mail!
When I lived in the US, I was paying a good solid 30% of my income on taxes. It seemed like very time I got a pay raise, I moved to a higher tax bracket and my paycheck got smaller. When tax time came, I owed every penny I could lay my hands on.
It seems like everything in the US is geared to fuck you over. It costs 25 cents to put air in your bicycle tires now! Buy a car, no payments for two years! Furniture! We tripled the price so we could halve it for you! I was eating beans and rice, the cheapest food I could find, working two jobs, while someone not working at all is eating steaks, driving a BMW and using food stamps. My damn money. When I was a kid, one person could work and support a family, then some of my friends Moms started working too, how weird. Then MY Mom stared working! Now, it I think everyone is working and not making ends meet. (Or not working at all, and doing fine.) And it just keeps getting worse and worse.
Since the Euro was introduced, the US dollar has done nothing but go down down down. I hate to say it, but I think it's because the black market doesn't need the US dollar anymore.
Again there is nobody worthwhile running for president. The guy with the ex beauty queen vice president will probably win, because the US likes electing movie stars. It's become a popularity contest. The mentality seems to be 'I wanna find out who's gonna win, so I can vote for the winner!' Long time ago there were good candidates, then, I used to have to vote against somebody, now there's nobody even running so I don't bother
This bailout is just prolonging the inevitable, the only way is to get the individuals out of debt and teach them to live within their means and quit handing out money. I thought the US used to have gold to match every dollar they print, but now I think they just print money and hand it out.
I'm not saying everyone is like this, but that's how the whole country looks to the world.
Living outside the US, I have learned that the US economy has always been bad for most of my life, even when it's supposedly good.
Instead I want to ask about this bailout thing that's going on. How's that going to work? Lets see, a lot of the US is running on credit cards, people can't pay their bills, and not paying mortgages, so the banks are going out of business because they're not receiving their money. So the government is going to pass out $700 billion dollars to who? the banks? Why? So the banks can pay their operating costs and stay in business? How is the money going to help the people? Is the bank going to issue more credit cards? Plus, the banks're getting $700 Billion from the government, they'll still go after the people who owe them money. Will they get double money? Or will they forgive debt?
Suppose I pay my bills, I don't have a big debt. But I'm scrimping and saving while my neighbor is spending like crazy, maxxing out one credit card after the other, not earning enough to afford all the stuff he keeps on buying. Pouring his entire paychecks back to these irresponsible lenders with their astronomical interest rates, and not paying his mortgage. Will he be forgiven his debt, and get to keep all his stuff he charged? While I get to keep on making payments? If so, I shoulda been doing the same thing. Every day I got a pre-approved credit card in the mail!
When I lived in the US, I was paying a good solid 30% of my income on taxes. It seemed like very time I got a pay raise, I moved to a higher tax bracket and my paycheck got smaller. When tax time came, I owed every penny I could lay my hands on.
It seems like everything in the US is geared to fuck you over. It costs 25 cents to put air in your bicycle tires now! Buy a car, no payments for two years! Furniture! We tripled the price so we could halve it for you! I was eating beans and rice, the cheapest food I could find, working two jobs, while someone not working at all is eating steaks, driving a BMW and using food stamps. My damn money. When I was a kid, one person could work and support a family, then some of my friends Moms started working too, how weird. Then MY Mom stared working! Now, it I think everyone is working and not making ends meet. (Or not working at all, and doing fine.) And it just keeps getting worse and worse.
Since the Euro was introduced, the US dollar has done nothing but go down down down. I hate to say it, but I think it's because the black market doesn't need the US dollar anymore.
Again there is nobody worthwhile running for president. The guy with the ex beauty queen vice president will probably win, because the US likes electing movie stars. It's become a popularity contest. The mentality seems to be 'I wanna find out who's gonna win, so I can vote for the winner!' Long time ago there were good candidates, then, I used to have to vote against somebody, now there's nobody even running so I don't bother
This bailout is just prolonging the inevitable, the only way is to get the individuals out of debt and teach them to live within their means and quit handing out money. I thought the US used to have gold to match every dollar they print, but now I think they just print money and hand it out.
I'm not saying everyone is like this, but that's how the whole country looks to the world.
Living outside the US, I have learned that the US economy has always been bad for most of my life, even when it's supposedly good.
posted by MarkD60 at 12:10 PM
7 Comments:
I totally agree with you, Mark. What gets me is that today they are saying "bailout" is really not the right term, but a more appropriate term should be "investment." I sincerely doubt the extra money we pay in taxes will ever be returned to the taxpayer. My husband and I personally didn't really want to see the "investment" go through, because we have no credit card debt and have invested wisely, so the only thing we get out of this is higher taxes. I don't fully understand any of it, so I may be wrong, but I think this whole thing is fishy.
One of my friends said a funny, but sadly probably true thing, "Bailout" at this point may be bailing out of this country. I envy you in the Caymans!
And I have no idea who to vote for. There is no good candidate. Both candidates will just lead us down the same path the US is already going.
I hate that elections are based on lies.
Credit makes everything look attractive, and gives the US the façade of being the land of food and plenty, whilst behind the scenes, there is nothing but debt.
The so-called bailout is geared towards getting cash back into the economy so that more loans can be generated, as right now everything is at a standstill and everyone is holding on to cash.
Banks no longer want to be cash poor, so they refuse to lend to any tom, dick and harry, which effectively means that only Bob with good credit, could possibly get a loan right now.
Everything is at a stand still as the markets wait with abated breath the cash injections, and the irony is, there is no guarantee that it will work. Will probably be a band aid solution, until the next time. I also heard on the news today that the state of California is also broke, and will request 7billion dollars from the Federal government. Wow!!!
Mindy should not envy us in Cayman, for it affects us all. The financial industry is suffering, and tourism Is suffering. Everyone’s credit cards are maxed out or being declined in the US, so no more grand Caribbean holidays….sigh…if the US sneezes, we catch a cold. What a sad fact of life.
Air pumps are $.75 now.
Mark, forget about the US. If you don't already have Caymanian status then get it. You're a civil servant not subject to the rollover right? If things get really bad in the US then revoke your US citizenship (unless you have over $2M in assets in which case you're screwed).
Enjoy every single minute you have in Cayman.
let us pray..............
I'm so with you on this one MarkD. Great post. SAid like a true Suzie Orman watcher.
Really interesting, really good post!
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