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Bank of America Corporation Message Board

  • bjspokanimal bjspokanimal Oct 3, 2013 3:07 PM Flag

    What the "Government Shutdown" is Teaching Us. Read On...

    Now that the government is shut down, the most startling aspect of it is that there are so many "Non-Essential Workers".

    We've been running $Trillion Dollar Deficits for the past 4 years, and mortgaging our Childrens' future.... a REAL fiscal crisis...

    ... and we've got a federal government that's all larded up with NON-ESSENTIAL WORKERS????

    I run a small business, and I can tell you right here and now that if I was hiring a bunch of non-essential workers like Mr. Obama's been doing, I'd be BANKRUPT.

    Only the federal government has money to burn larding up the government with hundreds of thousands of non-essential workers... and spending our hard-earned tax dollars to DO it.

    This is insanity!

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    • It's not insanity but Bernanke and Obama have essentially killed capitalism in order to preserve a bubble economy that they had to save. The housing bubble basically launched huge gains in income to middle tier workers (plumbers, welders, eletricians, real estate agents, builders, etc, etc) allowing these people to spend more money driving up prices in property and demand for cars, vacation homes, etc. Also remember that this increase in property prices also increased taxes in all states through property taxes which meant increases in pay for all municipal workers. This virtuous cycle of spending was great until we found out that it was all a scam based on loose credit and home sales to unqualified buyers (even a dog bought a house).

      So if they didn't pump a trillion dollars a year in into the economy what you would of seen was a massive deflationary spiral globally which would of meant a huge recession that would of meant 30% unemployment for years and years. So the US is bankrupt which is why they have to have the raise the debt limit debate every year because the US is paying one credit card with the other credit card hoping that no one notices. It definitely saved the economy but the next bubble is already forming into the stock market bubble as the stimulus money is creeping into sales and the stock market essentially forming a false economy on its own.

    • Worst part is they don't make any kind of profit, so they are only a drain.

      Don

 
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