Wednesday, March 18, 2009

Money Borrowed

Congress has been a master at making the other guy look bad.. but if you do some research you'll find that most of what they accuse the banks of doing, were regulated on them by the very same people asking for accountability. What's more, if you check a little more, you'll find that the those rules have not changed and that more of the same is to come especially if they continue to regulate what the companies have to do in order to "save" the economy. Of course if the banks and companies fail.. they, meaning, the Congress, cannot be held accountable. Pelosi told you that a couple of months ago and they count on you not to remember; unfortunately most don't.

Now your elected officials all demand that AIG "pay back" the taxpayer the earmarked bonuses; the same bonuses Congress knew about and approved within the original loan. Besides the outlandish lie that they even care for other reasons than their own image, you need to realize that there's no way of "paying back" the taxpayer. The money spent was tax revenue given to Congress by us so we can never reclaim it; Congress could for themselves to spend on something/someone else, but do you realistically believe that they will distribute it back to each taxpayer? That's why it's just a pompous show put on by your voted in politicians, for nothing else but your next vote.

Worse yet, however, is the reality that the money given was money from the future, because the money lent was borrowed money. In fact most of the budget spent is borrowed money and not taxpayer money, our money has long been spent in the past. Imagine living your own life that way.. oh I forgot.. we did for the past 2 decades. Is that why we let Congress get away with living off the future, for fear of facing ourselves in the mirror?

We've all done it, playing on margin, which is fine until you play it to the max, the markets turn and you find yourself in a margin call. When all is said and done, you had to divest your holdings unplanned and usually at the bottom, coupled by the realization that you paid interest for the "loan" and that you've lost serious capital. That's why margin's are dangerous, and should be used with extreme caution. Perhaps Congress has something to learn from Wall St. after all and perhaps the taxpayers should make a margin call on Congress. Ahhhhh dreaming, am I?