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The U.S. government is officially insane
February 26, 2009 – Comments (3)
As Albert Einstein famously said "Insanity: doing the same thing over and over again and expecting different results."
So now they are talking about putting another 750 billion into the banks? Has anyone in the government seen what has happened to AIG after spending 145 billion? Has anyone in the government seen what has become of Citigroup? And yet you want to spend more? Rewarding failure just leads to more failure but somehow you expect this to change?
And the one guy everybody in D.C. keeps calling a crazy old man, yea Ron Paul just gave out more wise words of wisdom today that will go ignored as usual regarding the difference between capital and credit.
11 trillion national debt at the start of this year. How many more billions er to become over a trillion can we spend on the bank rescue? Well I honestly don't see an end in sight now. 3 trillion? Heck why not 5? Yea keep borrowing money to 'capitialize' the banks? Huh? As Ron Paul said capital is created from saving money. Creating capital to rescue the banks out of borrowing from China or printing money is a disaster.
The only way this will be resolved is when China and all the other creditor nations finally say "screw you" and stop buying our treasuries and bonds. Then the governement will fail and will finally understand the consequences of borrowing beyond your means just like what happened to all the consumers who bought houses with no money down and/or no income to pay off the mortgage.
What becomes of our nation after the downfall is what scares me.