Stimulus dollars hammer poor
Reader Input
Tahoe conservancies getting $175 million of stimulus money to buy land and restore habitat sounds wonderful, but try to understand where that money comes from. This is not “taxpayer money” or even money borrowed from the Chinese; this is part of the $800 billion in printed bailout fiat currency. When we print money and double the money supply we cause inflation and over time this cuts the value of our currency. This hammers the young, the old, the poor and anyone living on a fixed income. By printing and spending fiat dollars we are essentially stealing from the future and the impact on the poor is many times worse than what the wealthy experience. This fiat money is not free, it comes with some horrible downside to the poorest and weakest in society. It will be paid back at a terrible cost by those who cannot defend themselves. Is this land really worth it? MIKE GRIFFIN, Truckee
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'Tis true, Mike...and one of the worst mistakes in our recent history.
It shows what ignorance and inexperiece will do when mixed with a "government can fix everything" agenda.
The problem is growing faster than it can be controlled right now, and the question is, "how and when are we going to stop it". By the next election cycle it may be too late because debt doesn't go away just because new people take office. We're in this one for years....maybe decades.
The stimulus package so far has done nothing for the people, only the banking, investment and car industries have benefited from it. Jobs, jobs, jobs, is what is needed and the Government can't employ everyone, not under a Capitalistic society anyway. When you look at it closely all those that have been bailed out are indeed working for the Government, except those at Ford Motor Company, the last independent car maker in the U.S. which interestingly enough is the only one showing a profit.
Get ready for the IRS to take back your stimulus money.
Jon, it was just a loan to get us going.......nowhere. You didn't think it was yours to keep, did you? We're taxpayers, we're the givers not the takers.
This administration and the Pelosi/Reed/Frank team are hell bent on destroying this county’s economy for many years to come.
Our economy was destroyed by greed and corruption long ago. Both parties share the blame for allowing the fleecing of America by Wall Street. Talk about redistribution of wealth. Hopefully the wrongs will be righted soon. It will never be complete though, as long as we are divided against ourselves.
Poppycock! Never has our economy been in such potential danger since the great depression. Bush made mistakes, but nowhere near the damage this administration and its allies have accomplished. Now, we see Obama warning us that if they don’t control their spending, we may end up in a “double dipped” recession. Wow! What a novel thought. Where did he get that information? These clowns have blown it and blown it bad, and now they are preparing us for our new future of poverty. They were warned about attempting to spend their way out of a recession. BTW, Wall Street belongs to the Democrats. The spending difference is there for all to see. Just read the Federal Election records. The majority of Wall Street gave to the Dems by a large margin. Obama’s largest Wall Street donations came from Goldman Sachs, Citigroup and JP Morgan. Gee, no wonder Obama was so good to them. Just follow the money.
P50, I almost fell off my chair laughing. You are correct, unfortunately. We ain't seen nothing yet. Wait until the dollar is devalued, not by our Government who foolishly continues to print money 24 X 7 but against the Euro, the Yen, the Ruble and on and on and on. You want to buy a Toyota Corolla? I hope you can gather up what you now pay for a Bentley or Rolls Royce, you want to buy one of those two? You better be Warren Buffet and he will have to finance it even after putting up the 1 Billion down payment.
We're on our way to becoming Obama's favorite country, Kenya.
Well said, Loomis.
seems that everyone here, including the letter writer, took a basic course in macro-economic theory...too bad you didn't grasp the basic concept of how and when fiat currency MAY lead to hyper-inflation...the US has had fiat currency since Nixon moved away from the gold standard in the 1970's...fiat currency in and of itself does not lead to hyper-inflation...printing of money does not in and of itself lead to hyper-inflation...spending of money by the federal government does not in and of itself lead to hyper-inflation.
finally...THERE ARE ABSOLUTELY NO INDICATIONS WHATSOEVER THAT THE US ECONOMY IS CURRENTLY HEADED TOWARDS HYPER-INFLATION. NONE.
In fact Core Consumer Prices are up 1.7 percent over the past twelve months...which is well below the increase from the previous twelve months. We aren't even seeing "worrisome" increases in the rate of inflation let alone any indication that hyper-inflation is knocking on our door.