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Tortorigi

Does it really matter how many trillions of dollars Congress prints and gives away? Is that a value?

Studentcredit:

creating money out of thin air to fix a problem is like putting a band aid on top of an open heart surgery incision. i heard my neighbour describe it a different way...the child with his finger in the dyke can stop the leak only for so long. the back pressure eventually is greater than he can hold back and then .....it will burst. if the government isn't careful, the back pressure may be too much. and when it bursts it may come in the form of the people who have had enough and are willing to do something drastic or in the form of an economic meltdown like the germans experienced during their Great Depression.

CalCarp:

yeah, ..so either there is some huge "backpressure' waiting to explode and consume us all, ..or this "downturn in the economy" is just today's excuse to have Congress pass out a lot of money to whomever it wants to either "thank" for something, ..or to secure future favors.
I know i've seen NOTHING in MY mailbox!! (..LOL!)

CalCarp:

I suggest we leave 1930's Germany out of this, ..Hitler was not so much a reaction to hard times, as a false promise of easy living and high times.
When Hitler discovered he had full of nothing but hot air all along, he committee suicide rather than apologize for his mistakes.
Let's hope we never get fooled again, eh?
This is not the first time people have faced tough times, and cold winters.
"We have nothing to fear, except fear itself", someone once said.
We get lied to all the time, ..there's no difference today.
Lock up your tools at night, ..put on a sweater in the house, ..and walk your kids to school in the morning. It will be better soon!

Xtremely:

Printing money with no value hurts us all it actually creates a hidden tax for the government. The federal government controls how many "shares" (ie: dollars) it will issue. If the government creates more dollars, either by printing currency or by crediting its bank accounts (the latter representing the vast majority of money creation today), then each dollar will represent a smaller fraction of our economy — the total goods and services we produce. If the money supply is increased faster than the economy grows, then the value of each dollar will decrease. Inflation is just the word we use and the measure we have to express this concept and quantify the decrease in the value of the dollar. So to say for example that inflation is 4 percent, is to say that the value of all the dollars you own is falling (every year) by 4 percent. Sadly, the government creates money at a far higher rate than 4 percent. So who gets all this new money? The federal government does, of course. The government effectively gets to 'spend' the money it creates. Over the past four decades, the government has increased the money supply at an annual rate of about 8 percent. That represents an 8 percent tax on all of the money you own. And just in case you wanted to know how much money we all own: the total money supply in the U.S. is over $10 trillion — $10 trillion dollars it gets to tax through inflation every year. Now that's quite a secret and provides you and me with a hidden tax!

CalCarp:

I think you and I agree that "government" is like the "friction", which we try to reduce in any common machine. It is hard to get it all out, ..but we try and keep it small.
What I am hoping for here, is some measure that maybe we are not ENTIRELY in the pits of doom, ..that there is as much "smoke-and-mirror" here as there is real tragedy.
I do understand this will be a long, cold winter for many people, ..but we've done that before, ..and I am still there quite often.
In fact, ..that kind of simple oatmeal is good for the heart of America!
Say, ..maybe we should forget the trillions to Wall Street, and just erect "Oatmeal tents" in every city.
Two scoops given to everyone as often as needed.
(..Four scoops if you got to the tent on a Bicycle!!!)
What do you say?

Xtremely:

CalCarp what a mind you have.

CalCarp:

I "Gott" it, now! (..but I had to read it 3 times, ..this is a presentation I haven't seen in my local newspaper! ..LOL!)
Inflation is a form of (..un-voted upon?) tax!
Thank you.
I'll take that back to the CPA that was at the family turkey-table the other night!
It was her idea about this "It doesn't matter who gets those bailout billions, ..it's all just as inflationary in the long run!"
She said it mattered little whether it was given out to you and me, or to General Motors, or to Citibank, ..the end product will be that we all will pay more, soon.
We both wished that there would just be no giveaways at all!
(..especially to failed Management Board's!)
"Gobble-Gobble!"

Sunni:

What they are printing more money???????????? Mercy.
They can make money or cut percentage rates to make the economy better but they cannot print any money for a while.

Sunni:

What Law? What did I miss?

CalCarp:

The latest (talk-show) estimates are that the "buyouts" will eventually cost upwards of 7 trillion dollars. America does not have that money sitting somewhere waiting to be spent. It will be a "deficit" spending, ..credit extended by the taxpayers. It is imaginary money, used to ignore past real debts. It is inflationary, it temporarily throws real values under the carpet. But those real values will eventually wear through the carpets again, ..and be argued again, ..and redistributed again, probably, ..and so it goes.
The "laws" are the regulations which Congress will try for, and which will determine the speed of the re-cycling, and oscillations. Like shock absorbers on your car.
I say, let the car rock, ..teach those kids in the back seat to just sit still!

CalCarp:

Sorry, ..those "kids in the back seat" are, to me, the CEO's and all, who spent those TRILLIONS upon themselves from investment pools where money was too difficult to watch drift (sucked) from individual clients and investors, on over to those with the votes to pull that money out for their wages and bonuses.
Did you choose your last automobile, shirt, gallon of milk with the knowledge of that company's CEO benefit package? ..or their company's employee satisfaction rating?
Perhaps we need a new sticker on all products, ..more important even than the "Energy Efficiency" rating we use for appliances and light bulbs: A "Budget Efficiency" rating, ..a "Free from Government Subsidy" badge, ..a "Good Housekeeping Seal of Managerial Responsibility to its Company Obligations".
Knowledge is power, ..and we need that power, of that public knowledge, to keep our economy alive.
Don't you think that would be good?.

Sonnamae:

Yes it does matter because if they print money without Gold {example} backing it, it wouldn't be worth the paper it was written on.

CalCarp:

..agreed, ..and I'm afraid it really IS worth nothing, ..or maybe I am HAPPY it is worth nothing! ..Let Wall Street have it!! ..Go ahead, Warren Buffett!! ..eat up!!

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