Comments on: Fed Opens Spigot With Up To $900B $1.3T More

By: TerryP

TerryP — Wed, 08 Oct 2008 21:18:06 +0000

I saw an article today, by Veronique de Rugy and Philippe Lacoude, that had a far better idea of how to use the $700 billion if we had to use the money. Obviously there were far better ways without using any or very little taxpayer money and this article addresses that as well. What they said was that instead of giving the $700 billion to the companyies that brought us into this mess, instead give approximately $3,600 to every taxpayer (191 million) and they would have to put this money into a retirement account. A lot of this money would go into money market accounts for safety. This would alleviate some of the credit crunch as this money would be able to be lended out to the most deserving businesses and individuals. Other money would go into mutual funds or even into stocks that have taken severe hits. The most deserving companies would get the most money. This would help to stabilize the stock market and bring some confidence back to the market. Some might go into commodities, such as gold, for a few people expecting things to continue to get worse and looking for the inflation that will surely come. This plan would have certainly had more backing and confidence with main street than the plan that was passed. The problem with this plan from a political standpoint is nobody is getting their wheels greased. Wall street and banks will only be getting money indirectly so there will be no favors that need to be paid from either side. It just isn’t corruptable enough to gain favor with politicians.

By: thomasblair

thomasblair — Tue, 07 Oct 2008 18:35:56 +0000

Well, the one thing that neither McCain nor Obama are admitting publicly is the fact that the economic crisis is pretty much going to put an end to those grand plans they keep talking about.

Are you fer serial? Are you implying that the lack of ability to pay for these grandiose programs they want to impose upon us will prevent said imposition? What on earth do you mean by this?

By: Doug Mataconis

Doug Mataconis — Tue, 07 Oct 2008 18:04:45 +0000

BigLiberty,

Well, the one thing that neither McCain nor Obama are admitting publicly is the fact that the economic crisis is pretty much going to put an end to those grand plans they keep talking about.

By: BigLiberty

BigLiberty — Tue, 07 Oct 2008 17:35:25 +0000

Thanks for posting this.

If a certain next administration gets its way, I predict we’re going to be faced with the double whammy of higher taxes and high inflation.

Hmm, when have we witnessed this before, and how successful was it?

Oh yeah. 1970s. And not at all.

By: Below The Beltway » Blog Archive » The Fed Takes Another Radical Step

Below The Beltway » Blog Archive » The Fed Takes Another Radical Step — Tue, 07 Oct 2008 17:03:42 +0000

[...] at The Liberty Papers, Brad Warbiany lays out pretty starkly what could go wrong with the Fed’s new plan: The current credit crunch is a largely deflationary phenomenon. Too much leverage existed in the [...]

By: Doug Mataconis

Doug Mataconis — Tue, 07 Oct 2008 16:26:30 +0000

Interesting as in scary as hell.

I’m beginning to feel like we’re living through something that won’t be completely understood until someone somewhere, probably in China, writes the history of it 50 or 100 years from nwo.