Post by bingbong on Nov 27, 2008 23:55:29 GMT 12
My friends James's Letter
Letters to the Editor
The Press
Private Bag
Christchurch
26 November 2008
Borrow, Borrow like there's no Tomorrow
You've got to hand it to the Americans, they don't do things by halves, and their stupidity is matched only by their greed. Like a mad doctor who prescribes stronger whisky to an alcoholic with a hangover, the latest bailout plan by the US government, beggars' belief.
To encourage consumer spending, this plan involves another trillion dollar buyback of dodgy loans from the banks, so the banks can make dodgier loans, ie credit cards, cars etc. HELLO! Borrowing and spending got them and the rest of the world into this mess, and now they and other major economies plan to borrow and spend their way out of this mess? Yeah Right.
Rome is burning, so what's the solution, let's try and smother the fire with petrol. Clearly the decision makers judgment has been somewhat clouded by the fumes of falling oil prices.
God Bless America has become God Help America. In fact God Help all of us, because like the alcoholic, there is only one possible outcome for the global economy subject to such an insane prescription.
James Ayers
Aranui
Letters to the Editor
The Press
Private Bag
Christchurch
26 November 2008
Borrow, Borrow like there's no Tomorrow
You've got to hand it to the Americans, they don't do things by halves, and their stupidity is matched only by their greed. Like a mad doctor who prescribes stronger whisky to an alcoholic with a hangover, the latest bailout plan by the US government, beggars' belief.
To encourage consumer spending, this plan involves another trillion dollar buyback of dodgy loans from the banks, so the banks can make dodgier loans, ie credit cards, cars etc. HELLO! Borrowing and spending got them and the rest of the world into this mess, and now they and other major economies plan to borrow and spend their way out of this mess? Yeah Right.
Rome is burning, so what's the solution, let's try and smother the fire with petrol. Clearly the decision makers judgment has been somewhat clouded by the fumes of falling oil prices.
God Bless America has become God Help America. In fact God Help all of us, because like the alcoholic, there is only one possible outcome for the global economy subject to such an insane prescription.
James Ayers
Aranui
