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Pretty Taxing.



September 20, 2008 – Comments (3)

Not the Government. The banking system.

3% every time my card is swiped. I don't see it because it is billed to the merchant, but it is in the price of everything. 4% on my mortgage, the difference between what I pay and what my Gov't gets paid for the same money. Up to 12%, the fees on my 401k (must see video later when you have time) even if it says only 1%. The fees on my checking account 1%, more if you bounce a few. Processing fees. 10% for the loan to build the drilling rig, the refinery, the gas station. All priced in a gallon of gas and guaranteed by AIG and now the USA (us).

Since all these  fees and interest mark-up is justified by the risk taken, and today there is no risk, then this is the second most expensive branch of Government we have. With the most highly overpaid employees.

I'm liking Ron Paul more and more. I hope Obama gets elected and offers Hank Paulsons job to Ron Paul. And I'll trade Chris Cox for Elliot Spitzer in a second.

If the USA buys 700 billion in mortgage loans, and the banking system gets to leverage their restored balance sheets at 10 to 1, does that make this the most inflationary week in the history of the USA?

I have $6000 this week, that I did not have last week. I live pretty cheaply except for the organic foods. I bet that $6000 will not cover more than two years of price increases we are going to get. I am planning on living 40 more years.

I lost money.

3 Comments – Post Your Own

#1) On September 20, 2008 at 11:13 AM, dinodelaurentis (83.60) wrote:

the ONLY thing i knew about Ron Paul was the MSM coverage of the republican debates. i heard he was a second tier candidate and mostly used for laughs by the front runners.

in may 08, when i started looking at the stock market, he kept popping up. and i'm thinking what is wrong with his people? he lost. he's not the cadidate. jeez, accept it gang.

then i started watching some of the clips about the economy and he made sense. made sense about the war. made sense last week and then again yesterday. dang bo, he might have a clue about this stuff!

it would be nice if he was used properly instead of shunted aside like he has been so far!

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#2) On September 20, 2008 at 11:52 AM, DerektheDude (84.46) wrote:

Good call on the way things are. You know, I'll bet that Ron Paul would take any job that Obama's administration gave him. The two are fundamentally foes, but I could see those two rapping over a steak dinner and some wine; maybe actually putting some policies in effect to fix our economy instead of throwing our money at it.

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#3) On September 20, 2008 at 12:02 PM, jack21222 (88.43) wrote:

Excellent post. Especially about the hidden costs.

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