24 March, 2009

Geithner Asks Congress for Broad Power to Seize Firms

The headline says it all.

Here's the article.

11 March, 2009

Infinite Excuses, Finite Resources

It seems there is always some justification to be presented to we, the bankrupt citizen-shareholders in this grand enterprise.

For TARP it was "the far greater cost of doing nothing." Remember, anything other than massive forced indebtedness of citizens is "nothing."

For the bailout(s) of GM and Chrysler it was the "catastrophic" "ripple effects" of not confiscating people's money for the companies.

For the so-called stimulus package, it was the "consequences of inaction" (i.e., of not taking those hundreds of billions of dollars from wherever they were (or were not) and putting them where Congress and various other elected and non-elected officials decide to put it).

For various Federal Reserve acts of profligacy, which are difficult if not impossible to track or measure, it was variations on the same theme.

And now, for the $410 billion budget bill, it is "last year's business." (Is there an earmark for a time machine in there?) Yet, it represents "a clear win for Democrats..."
Generous above-inflation increases are spread throughout, including a $2.4 billion, 13 percent increase for the Agriculture Department and a 10 percent increase for the money-losing Amtrak passenger rail system.
No doubt life without the the next extended trip (Stimulus II?) into even deeper caverns of debt will be equally unthinkable to the Deciders.