Re: OT Billions and Billions No big deal....
- From: Bob Giddings <bobg@xxxxxxxxxxxx>
- Date: Sun, 16 Mar 2008 11:52:44 -0500
On Sun, 16 Mar 2008 07:39:35 -0700, Gar <olgar2@xxxxxxxxxxxxx>
wrote:
Watching the special on the Iraq War this morn and I am amazed by the
cost of this war BS..
About 500 Billion to date.. pretty big news on a daily basis by the
networks and the anti-war folks...
Yet.. we can give 160 Billion 'hand-out' to boost the economy without
hardly so much as a serious news blip on the cost of it..
Now.. we can flip Bear Stearns and some others 200 Billion.. again w/o
batting an eye...
Thats about 4 years of the total 5 year war cost.. yet the cost of this
BS does not hardly qualify as a news item...
I remember the S@L bail-out for what was it?? A mere 60 Billion...
hell, IIRC, It was portrayed back in the day as like it was going to
bankrupt the Nation....
Looks to me.. the news is a bit skewed on this 'cost' thing....
--
Ol Gar and Mahoney... in the lil trailer, under the bridge, down by the
river...
I would not argue about the potential dumbness of the handouts.
The Bear bailout, rewarding the most in-your-face aggressive
perpetrator and manipulator of the subprime debacle next to
Countrywide, is defendable only in terms of the danger of them
dragging everybody down with them.
Remember the Long Term Capital Management debacle? Bear Stearns
was the only player asked to help solve the problem who told the
government to go piss up a rope. If ever an example needed to be
made of some sharp-elbowed, selfish, arrogant prick, it's them.
I can't defend it. I'd rather see their bones picked over and
crushed for fertilizer.
But the government bailout, such as it is, cannot be compared to
the war. Everything we've invested over there has been money and
effort and lives poured down a rathole. The government has
LOANED money to Bear Stearns for a short period of time (28 days)
on collateral. Just to buy time. Collateral backed by real
estate. That collateral may not be worth 50 cents on the dollar,
but it's at least something.
The war is a total waste.
It's the gift that keeps on taking, quickly destroying every
billion thrown at it. Perhaps two trillion dollars before we
finally disengage, paid for with a credit card. All of those
billions have been borrowed against the future earnings of the US
for decades to come.
There's no insurance. The house has burned to the ground. But
the mortgage lives on and on and on. Meanwhile we've transferred
our earning capacity overseas.
Ruin and bankruptcy loom. And there's no one to blame but
ourselves.
Nobody asked us to slap that tarbaby.
Bob
http://speedbmps.blogspot.com
http://www.arcatapet.net/bobgiddings
.
- Follow-Ups:
- Re: OT Billions and Billions No big deal....
- From: Lone Haranguer
- Re: OT Billions and Billions No big deal....
- References:
- OT Billions and Billions No big deal....
- From: Gar
- OT Billions and Billions No big deal....
- Prev by Date: Re: OT Billions and Billions No big deal....
- Next by Date: Re: RV Issue -- Moderating This Group
- Previous by thread: Re: OT Billions and Billions No big deal....
- Next by thread: Re: OT Billions and Billions No big deal....
- Index(es):
Relevant Pages
|
