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.