Barry's Economic Stimulus Plan
Dear Mr. President, I know it’s really easy to spend other people’s money but let’s face a reality here. No matter how much money you’re going to throw at the banking and credit system, it just won’t work. The banks are, for lack of better word, bankrupt. They went bankrupt because they were built on a shoddy financial foundation and took excessive risks. Now you want to continue to use MY TAXPAYER MONEY to keep feeding these pigs? Heck, you don’t even know HOW MUCH MORE MONEY it will take to solve the problem! Emphasis mine.
We don’t know yet whether we’re going to need additional money or how much additional money we need’ until we’ve seen how successful we are at restoring a sense of confidence in the marketplace, Obama said in a news conference last night in Washington.
The president’s remarks indicate he acknowledges the assessment of many economists that the $350 billion remaining in the Treasury’s’ Troubled Asset Relief Program is insufficient to revive credit markets. The International Monetary Fund forecasts financial companies will need to write down over $1 trillion more of their U.S. mortgage debt. [by Rebecca Christie and Julianna Goldman
What ever you and Mr. Giethner are planning to do to help revive our economy is bound to be atrocious in nature and will NOT solve the underlying problems. Mr President, if you truly want to rebuild our economy into a powerful wealth engine again, I suggest you do the following:
- Let the bankrupt banks die
- Abolish the Federal Reserve
- Reinstate the Gold Standard
- Abolish fractional banking
Oh, silly me. I forgot, this will dethrone hurt the new ruling class, elite nobles, the bankers and will never happen until the people rise up and beat them to a bloody pulp in the streets.