Pages

Tuesday 21 July 2009

It hasn't 'hit' yet............by Rico

The FULL impact of "the sky is falling" porkulus has not 'hit' yet...but when it DOES, people will not be very happy.

The Financial 'crisis' which was caused by the government, then solved by the government, may be the all-time poster child of unintended consequences.

What began as a $730 billion 'bailout' that we just had to have now to 'save us' has evolved, and is evolving. The TARP Inspector General Barofsky says that the total potential bailout "cost" to government [read: the taxpayer] after looking at the combined efforts of the Fed, Treasury, FDIC, FHA, etc and ad nauseum, looks something like $23.7 trillion.

I'd rhetorically ask "how's THAT for CHANGE" except there will be very little change left over after we pay the tab for our economic geniuses in Washington.
- Maybe they should have actually "read" the legislation before making it the law of the land?

Does anyone still doubt that confiscatory taxes are coming?

1 comment:

the_fatman said...

yes we can.