Spurring debt and credit instead of industry
I don’t think this problem is as complicated as everyone wants to believe.
The problem is the language. We never hear words like “industry or jobs” any more. We heard those words a lot during Obama’s campaign but that dialog has turned exclusively to markets and credit and lending.
In case no one noticed, and obviously they have not, the fact is that lending, credit, and the stock market are the things that got us in debt.
If the banks had all the money there was and made it available to lend TODAY, who will need to borrow the money? Growing numbers of unemployed? The people who are over their heads on their mortgages and in foreclosure?
We are starting to hear the words “giving credit to people who don’t deserve it”.
With the numbers of “people who don’t deserve credit” growing by the second who will it help?
Let’s look at it from another angle…
Who profits from lending? Consumers/ Homeowners? American workers who have no jobs? Well the answer is obviously BANKS.
Who will need to borrow with no jobs? Or is this another plan to lend and refinance again and again and again? It didn’t work before. Why will it work now at an accelerated rate?
We will never BUILD anything but more debt by lending. That is a FACT. If you give $3T to banks and they lend every penny of it out today we will then have a $3T debt increase. It IS that simple. If you give $300T to banks and they lend that out you will have Americans with an additional $300T of debt and still not one single job. Not only will they have the $300T debt but we will have to add the interest onto that figure. Because we will owe the $300T PLUS the interest the banks need.
Banks will never create jobs. Giving money to failing corporations that got us into this mess will NOT create the jobs this country needs.
And still Obama talks of NOTHING BUT CREDIT, LENDING, and giving money to banks to increase our debt. Never a single word about starting the new wonderful industries he mentioned in his campaign.
He said yesterday with the British Prime Minister that "we are getting to a point where buying stock is a good investment if you have a LONG TERM perspective".
I guess LONG, LONG, LONG, term perspective would have to be the correct phrase after the stock market dove 25% in the last month.
Is Obama really this ignorant of the facts? Of the numbers? Of what is going on?
What are these things: Wind? Solar? Hydrogen?
Answer: The new industries Obama talked about BEFORE he got in the Whitehouse.
Perhaps the unemployed, the homowners facing forclosure, and the bankrupt can borrow money and buy stock for a "long term" investment.
Sounds pretty absurd when you say it like that doesn't it? Well thats what Pres. Obama is saying and that is ALL he is saying.
We need income and jobs before we need any banks to lend money. THAT is how credit and lending BUILD instead of KILL an economy.
WE NEED THOSE JOBS Mr. OBAMA!
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Narita, Chiba, Japan