Comments on: Bail-Outs and Stimulus Packages http://www.metroi4news.com/2009/02/bail-outs-and-stimulus-packages/ Highlighting the News from Florida's Central Corridor Sat, 16 Oct 2010 16:47:55 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Metro I-4 News News and Info from Lakeland Florida » Blog Archive » The Graph of Doom: It’s Time To Get Real About The Stimulus Debate http://www.metroi4news.com/2009/02/bail-outs-and-stimulus-packages/comment-page-1/#comment-292 Metro I-4 News News and Info from Lakeland Florida » Blog Archive » The Graph of Doom: It’s Time To Get Real About The Stimulus Debate Mon, 09 Feb 2009 03:03:55 +0000 http://www.metroi4news.com/?p=2668#comment-292 [...] It’s Time To Get Real About The Stimulus DebateFreight Giants Love Mica, Fish Like To SwimBail-Outs and Stimulus PackagesOrlando TweetupVideo Minute: [...] [...] It’s Time To Get Real About The Stimulus DebateFreight Giants Love Mica, Fish Like To SwimBail-Outs and Stimulus PackagesOrlando TweetupVideo Minute: [...]

]]> By: Donkeyrock http://www.metroi4news.com/2009/02/bail-outs-and-stimulus-packages/comment-page-1/#comment-291 Donkeyrock Sat, 07 Feb 2009 03:00:42 +0000 http://www.metroi4news.com/?p=2668#comment-291 Oddly enough I disagree with most of this, particularly because the blame is too one-dimensional. Monstrous social programs have been developed and enacted by both parties, and there's no evidence to show that social programs have brought the economy to the problems levels we have right now. Fraud and greed are the culprits, with a healthy serving of ignorance. $60 Trillion in imaginary insurance for mortgage-based CDOs, turning junk bonds into AAA rated bonds that get sold around the globe, that's an economy killer. Lending standards reduced while rampantly fraudulent property appraisals inflate prices as much as 500% over the course of a decade, that's an economy killer. Massive taxpayer funding of social programs is wrong, because it's charity by force (you don't pay, you go to jail), and Socialism in any form should be squashed like a roach because it promotes such wanton spending while putting power into the hands of bureaucrats, not into elected representatives who are answerable to the public. However, these aren't the causes of the current crisis, though they certainly didn't help. Oddly enough I disagree with most of this, particularly because the blame is too one-dimensional. Monstrous social programs have been developed and enacted by both parties, and there’s no evidence to show that social programs have brought the economy to the problems levels we have right now. Fraud and greed are the culprits, with a healthy serving of ignorance. $60 Trillion in imaginary insurance for mortgage-based CDOs, turning junk bonds into AAA rated bonds that get sold around the globe, that’s an economy killer. Lending standards reduced while rampantly fraudulent property appraisals inflate prices as much as 500% over the course of a decade, that’s an economy killer.

Massive taxpayer funding of social programs is wrong, because it’s charity by force (you don’t pay, you go to jail), and Socialism in any form should be squashed like a roach because it promotes such wanton spending while putting power into the hands of bureaucrats, not into elected representatives who are answerable to the public. However, these aren’t the causes of the current crisis, though they certainly didn’t help.

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