Tuesday, October 21, 2008

Second Economic Stimulus Package Endorsed by Fed Chair


A second economic stimulus package has been endorsed by Fed Chairman Ben Bernanke. What does this mean to the average person here in the United States. My theory is that Ben realized that we have switched from any type of monetary standard to the paper standard in that the value of any printed currency is only worth the paper it is printed on. So why not print more. We had one stimulus package this year, a 700 billion dollar bailout, and now a call for a 3rd economic redistribution. I wonder why not shoot for the sky. Each bailout is truly creating money out of thin air, why not go all out. Why not buy everyone's house and car and food and clothing. This is the slippery slope "Joe the plumber" was talking about. Behind every action, there is a principle. Once you allow for the principle of economic redistribution, whether that being in some form of entitlement program, minimum wage, subsidies, or just straight cash, where does it stop. It really is like a meth addiction.

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