Saturday, February 7, 2009

What is the End Game with all this Stimulus Stuff?

I think the stimulus packages, this one and the last one, is a load of baloney (insert your own expletive if you like). Albeit a big load but baloney none the less. What these packages are trying to do is restore the excesses of the past where consumers buy more than they should, whether it be houses, cars, credit card balances or whatever. Does anyone do a reasonableness test anymore? Are we trying to go back to living beyond our means? Are we saying we need to return to the past excesses? This all seems like a vicious cycle to me. How does this practice ever end?

As a nation and a world we need to relearn to live within our means. We need to know there is predatory lending when the rewards for making loans is so great the lenders will do anything to make loans. Remember what Michael Douglas said in Wall Street "Greed is good." Is that what we are trying to get back to? Are those really the new good old days? I think they are the days of the financial terrorists and hope they are gone forever.

I think it would do America good to step back and realize that perhaps that $2,000 plasma HD TV isn't really necessary. Perhaps a Chevy will do instead of a BMW. Perhaps a starter home would be good instead of a $350,000 four thousand square foot castle with a 100% mortgage that takes all of one income just to pay the mortgage, taxes and insurance, utilities, furniture and so on.

We need real leadership here just like when you looked your child in the eye when they were little and said you can't have that. Sorry, but we can't afford that right now. We need to save that money for your college fund. Let's start looking past tomorrow and think about the big picture. Ask yourself, do I really need all this, or is it just baloney.

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