tag:blogger.com,1999:blog-3862216000300765627.post5991768982078020978..comments2024-01-16T03:42:46.705-05:00Comments on The Downward Spiral: Layoffs Increasing as Stimulus Money Runs OutBill Hickshttp://www.blogger.com/profile/17551954408189665078noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3862216000300765627.post-3485764872749937242011-08-22T12:34:35.756-04:002011-08-22T12:34:35.756-04:00@Bill - true. Generally, I consider us to be an o...@Bill - true. Generally, I consider us to be an oligarchic kleptocracy, but I thought "capitalism" fit the sarcastic tone of the last question. ;-)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-39362069494835405582011-08-21T22:27:23.590-04:002011-08-21T22:27:23.590-04:00@bmerson - actually I wouldn't really call it ...@bmerson - actually I wouldn't really call it capitalism anymore. Socialism for the rich and Darwinism for everybody else is more like it.Bill Hickshttps://www.blogger.com/profile/17551954408189665078noreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-15481482340256476542011-08-21T21:24:03.468-04:002011-08-21T21:24:03.468-04:00As Dave Cohen (Decline of the Empire blog) likes t...As Dave Cohen (Decline of the Empire blog) likes to point out, there are two economies... the money economy and everything else (the "real" economy). The recovery act actually did provide quite a bit of assistance to the regular everything else economy (see www.recovery.gov for accounting of funds). While some of it still went into the money economy, most went into the "real" economy.<br /><br />The problem is that the recovery act was only a tiny percentage of what the government actually spent in "stimulus" and virtually everything else went entirely into the money economy, with no tangible benefits at all to the real economy. As the stimulus (recovery act) money runs out, the little bit that main street got is going away. However, the banks can still borrow at nothing and buy up treasuries (or foreign debt) and make a bundle on the carry trade. This is probably the single largest piece of government bailout that was undertaken and it's never talked about in the MSM and it's still going on with no end in sight. This is basically a direct transfer of wealth from the government to the big bank money economy. While real Americans are once again going to be left on their own to suffer, the banks continue to cash out at our expense. Ain't capitalism grand?!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-86449813550860737092011-08-21T11:36:57.678-04:002011-08-21T11:36:57.678-04:00@surferelf - allegedly. All we have is their word...@surferelf - allegedly. All we have is their word as to what has been paid back. To say I don't trust any of what I hear in that regard is an understatement. <br /><br />Let's also not forget the ZIRP and QE policies of the Federal Reserve that have devalued the dollar and crushed small savers as an even larger "back door" bailout of the big banks and Wall Street.Bill Hickshttps://www.blogger.com/profile/17551954408189665078noreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-24274908300175663312011-08-21T10:49:57.903-04:002011-08-21T10:49:57.903-04:00"Regrettably, most of the increased deficit s..."Regrettably, most of the increased deficit spending back then went to bail out the big banks and Wall Street."<br /><br />I'm not sure this is the case. A good chunk of TARP has actually been payed back. I think we may have spent more on unemployment benefits by now. This in no way detracts from your larger point, though.Anonymousnoreply@blogger.com