Hope and Change Obama Style

[alexamenos]

I'll take a stab at this, KG....

link--> Financial Rescue Nears GDP as Pledges Top $12.8 Trillion

The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.

Financial "Rescue"??? I don't know about the rest of you, but forking $42k over to Tim Geithner and Ben Bernanke's buddies doesn't feel like I'm being rescued, it feels like I'm being raped.

...the fed gov is taking a year's worth of labor and handing it over to their banker buddies. The federal government is basically guaranteeing that we will all receive the sad effects of going a year without working (ie, debt and lower quality of life), only without the happy benefits of unemployment (ie, sitting around in underwear and playing on the ps3 all day).

The absurdity of all this is the idea that the government is doing this for our own good. I think the folks who are still clinging to the idea that the federal government is doing them a big favor are just incredibly foolish. KG was exactly right -- one must be incredibly naive to think the fed gov is saving them from some looming economic calamity by foisting an economic calamity upon them.

In fact, the economic calamity that may have been felt by many wall street bankers is being transferrred from them to you -- you are being sacrificed that they may be rsecued. This is what they mean by 'financial rescue'.

So ...

Originally Posted by chumdawg

Okay, I confess to being incredibly naive. Tell me what I should recognize?

What you should recognize is that you're being raped.