Originally Posted by mact3333
1. 3/4 of our GDP is consumer spending...a fact...so if you want to help our economy, consumer spending must go up and this will create jobs correct?...well was TARP 800B, but anyone that knows anything,knows the sum was well into the trillions...govt said they wanted the banks to get healthy so they would make loans to us so we could get into more debt to spend right?.
Well, credit is tighter than ever...they could have given every american 17K rather than TARP and the stimulus and this WOULD have truly stimulated the economy...would have helped mom and pop...but instead the banks got it and didnt ease credit so they did nothing for the avg joe.
2. JP Morgan is THE major shareholder in the Federal Reserve...so, JP Morgan has close to a trillion in derivatives outstanding and they get bailed out to the tunes of trillions(not billions) in reality yet they essentially control the printing presses via the Fed Reserve...now this is the cold stone truth nobody talks about...anyone else have a problem with this????...you see why we are so farked??
I agree, giving us $17k each would have been a more direct effect for Tarp but that is considered socialism and that is only reserved for banksters, we the people are only allowed capitalism. Any stimulus would always fail if there is no real sustained job growth to take its place.
Regardless, we need a long term solution to get us out of this but since we no longer produce anything in this country except for toxic debt, I don't see any real way out of this. All the choices are extremely painful which no politician would touch and we would probably run out of time anyways.
I love how they tell us how we all need to save more and then give us near zero interest rates and at the same time telling us we need to spend to save the economy.