Let Them Eat Pancakes Cont....
April 02, 2010
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In my last blog, we highlighted how much money government and Wall Street borrowed last year to keep government and Wall Street operating generating generous salaries for workers and executives alike....despite the fact that revenues and tax receipts evaporated.
But despite the massive borrowing going to a select few....much of the rest of the nation is shutting down. For example, when you permit money losing public homebuilders to borrow as much as they want from our pension plans......but you cut off private builders from credit.....the private builders shut down....and hundreds have over the past few years.
The same is true with just about any private business competing against money losing and/or cash flow negative unlimited borrowing Wall Street funded businsses.
Burch Pharmacy in South Minneapolis
The problem is OVER 50% of the workforce works for small businsses.....and right now small business is shutting down across America.......but, many of these small businss owners are not counted in the employment numbers as many are not classified as employees.
It is funny.....America cheers as tax receipts evaporate and neighbors go bankrupt.....pretty soon, you will realize that the only reason you have a net worth is because of government spending and Wall Street lending......until the day Wall Street runs out of money to borrow from........that day will be known around the world as Zombulation Day.
And whether you like it or not.....if America is broke.....you are broke too. Soon you will understand as Obama can only borrow trillions to pay for health care and government workers for so long before the money runs out.
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