HO HO HO .... YA GOTTA BELIEVE ....
Santa Clauss is coming to town Folks. Latest word is that if you've been good enough to not pay much in taxes, you'll have a very Merry Holiday - 500 to 700 Billion Dollars worth. Figure if it's divided among perhaps 200 Million taxpayers that should work out to about $3,000 each. Who knows? Maybe by the time the late Winter months arrive and the unemployed ranks swell enough, maybe we'll get $5,000 or $6,000 or more. This is Wonderful! Why didn't we think of this before?! But those mean rich people, they'll simply get 'Coal'. Oops, I forgot, they're going to bankrupt the Coal companies and besides it's very dirty and unhealthy, and we need them to stick around and pay the bills. So they'll get nuthin' for Christmas.
The Elves are very busy so line up everybody, banks, investment companies, auto manufacturers, troubled home owners, there's more than enough to go around for everyone. Make sure that you spend it because there'll be another round of merry making soon after. Enjoy it while you can because prices will start climbing soon and things will become more and more expensive. Look to buy imported merchandise because when the Dollar starts falling, if not collapse, those television sets and such won't be the bargains that they are today. This will be such a marvel to behold - money created right out of thin air. Who needs those miserly buyers of Treasury Bonds & Notes anyway? Let the good times roll !
*****
Seriously, there are so many things wrong with the U.S. economy that it exposes the incompetence of generations of elected officials. When things are going well it's not so obvious, but in an immense economic downturn the ignorance is vividly obvious.
For decades now, anything that pops into a government officials head is plugged into the economy and they run out to leave us with the mess along with bills to pay. Departing President Bush included, this is a 'Renegade Government' that will destroy everything including itself before long. Soon will come the day when they regret the squander of limited resources as runaway price increases wipes out any short term benefit from the stimulation and plunges the nation into a new and worse chaos. Anytime after the arrival of the new stimulus package and the end of 2009, look for the start of the upward price spiral in my opinion.
There's only one apparent sound solution to our economic woes -
** Cut Corporate Income Taxes By 50%.
** Offer a 25 year moratorium on Federal & State taxes for new plant manufacturing facilities to encourage overseas investment in the United States.
** Drastically slash Federal and State governments along with discretionary spending to minimize budget deficits. Solve the Social Security & Medicare problems now.
Unfortunately, we're moving in the opposite direction and there's no hope for a sound economic policy until the consequences of the politicians foolishness has run the course.
In the meantime, HO HO HO... YA GOTTA BELIEVE....HYPERINFLATION IS ON THE WAY !