Just Give Us Gift Cards
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- January
- 24
The federal government is going to cut checks made out in amounts of $600 for individuals and $1,200 per couple to stimulate the economy, and I’m feeling stimulated already. In fact, I’m over stimulated. I’m already spending the money, even though I don’t have it. Spending money you don’t have—that’s the American way. Right?
I need some Ritalin to calm myself down. That’s how over stimulated I am.
I’m only half-kidding. I don’t understand the economy, and don’t pretend to understand it. But if our economic health depends on people spending money for junk they don’t need, well, there must be something seriously wrong.
Spending is good. Saving is bad. That’s the message. The mortgage fraudsters and the credit card hawkers WANT US in perpetual debt, paying exhorbitant interest rates, as long as we keep paying and don’t default on the debt. Now that half the nation is bankrupt, the government is handing out checks so people will spend and spend and go into debt again. It’s a vicious circle.
Somebody suggested that the feds ought to just give out gift cards, if it’s just about spending. How about gasoline debit cards? Barnes & Noble? Starbucks?
I like that. Watch, it might just happend.
Here’s another thought. We’re in a global economy and no one seems to totally comprehend it. Merrill Lynch, Citigroup and other financial institutions are writing off billions of dollars in losses and are now going overseas to sovereign nations to get massive infusions of cash.
Meanwhile, the global ecomony has cost thousands and thousands of lost jobs in America.
We can’t control our economy and we can’t protect our workers’ job…so why then are we expending our treasure defending everyone else in the world? Just wondering.
This entry was posted
on Thursday, January 24th, 2008 at 5:34 pm by Phil Reisman.
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Phil Reisman is a veteran journalist and native of Westchester County. He began his career in 1977 as the head copy boy of a startup New York City newspaper that quickly went belly up. Reisman was not to blame for the newspaper's failure, or so he claims.
Insanity rules. Americans save next to nothing. The banks need money. Government’s answer: lower the interest rates so that people won’t put money in the bank. Make sure the elderly and retired can’t get a decent return on savings. Borrow money at 11% interest plus stock ownership from the people who are bankrupting our economy with oil price glomming and tacitly sponsoring terrorism to keep themselves in power. Give everyone a check from the taxpayers to themselves to spend, and hope they won’t deposit the check in the banks that need the money. Spend a trillion dollars endeavoring to give Iraq “democracy.” Don’t notice that “democracy”, even if possible in these broken-down oil dependent states means selling your vote to the highest bidder, especially if he’s a communist or a radical socialist. Meanwhile, every municipality and county in the state raises taxes. And the state, too. We are being led by the blind to the edge of the precipice.
Hey, Phil – Since the new format was implemented, you can’t get to your blog unless you go through “columnists.” I’m using a MAC, so maybe it’s only me.