03
Mar
10

What is your money worth?

money pictureThe American government is supposed to be for the people, by the people and of the people, but that is the biggest fallacy, patriotic propaganda.  The fact is that government is for the rich people, by the rich people and of the rich people.  The founding fathers were composed of the elite of their time, were property owners, businessmen, and lawyers.  Now after all the tax payers pants were dropped when congress voted for a bailout, and saved the rich and their financial companies from going belly up, know that you will be paying for that for years to come.

The economic travesty has resulted in many Americans losing their jobs, their homes, their cars and the financial well being.  While congress (whose members earn on average $175,000) gave themselves another pay raise (which brings their pay up by more than $4000 to $5000 per month), the senate also voted for a 2.9% pay for federal employees.  So the cost of government went up without your approval.  Are you okay with that?  The pay raise is automatically deigned to be put into place since a law was passed in 1989 – both the house and senate have to vote against their pay increases each year.  The choose often not to vote —  I wish we had the option – but maybe that does exist in California for the state house and senate?

So add injury to insult, these bozos run the country and are deeply involved in the financial market place, taking donations from corporations and the rich to pay for their political campaigns.  Why else do you think that our government would bailout General Motors and AGI? 

Now how do you pay for loans?  You either cut back in other areas personally or earn more money so you can pay off a debt.  But we are talking about government.  And this nation is the largest debtor in the world.  How do they pay for anything?  Especially when it is a bailout? 

Print more money!

What is insidious about that is that you and I, who are getting laid off, losing our homes, our cars, our credit ratings.  What about students who are struggling with the ever increasing cost of tuition, fees and books?  Well, unfortunately, you will pay what is called inflation.  That means you don’t get your hourly wage cut, but you get a direct depletion of your dollar’s value. 

The dollar is valued based on what it can buy.  When the gas prices jumped up in the past 5 years, so did the cost of goods and services.  The payment for simple things like food also jumped up proportionally.  That means what you paid $1.17 for in 2005 now costs like $1.60.  That is real inflation – something goes up in price because you money is worth less.

Look at the cost of tuition at your campus – how much has it gone up?  Think about it.  The federal government spends 7.5 trillion and then everywhere you have the cost of goods and services, books and tuition jumping up.   The country raised its own debt by about 10 percent in one year.  For individuals, we end up bankrupt from doing such foolish things, but then again the federal government doesn’t have to be held accountable to the voters, right?  

This is the doublewammie of economics.  You get a government that costs more and they pay for their raises with inflating the money supply, and lowering you real income by depressing your dollar’s worth.  But actually that makes sense if you have no accountability and a hot printing press in the back yard.  The rich pay for their presidents, vice presidents and their buddies in congress.

Corporations Paid off include the following:

JP Morgan Chase 29 billion

AIG  122.8 billion

General Motors, Chrysler and GMAC $78.9 billion

Bank of America $45 billion

Others receiving bailout money:  American Express, Capital One, Goldman Sachs, KeyCorp, Morgan Stanley, PNC, Bank of New York Mellon.

If you took the first 700 billion bailout plan and gave that money to the people, each person would have about 2.3 million dollars????  So what is that with 7.5 trillion? 

Could you live on that?

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1 Response to “What is your money worth?”


  1. 1 mark1point0
    03/03/2010 at 8:27 pm

    Wow. This mess is absurd, and I thought things were sort of settled.
    Banking badly and missing management: conflicts of the rich; graveyards for the poor.

    On the J.P. Morgan Chase news update;
    AFTER THAT BAILOUT, JPMorgan Chase Chief Executive Officer Jamie Dimon ..whining, about measures proposed to get that money back…shocking.

    http://www.politico.com/news/stories/0310/33738.html


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