$1.1 trillion
It is a lot of money, I'll give them that. But I can't help but think that the G20 leaders are adopting the strategy of the bigger they make the number, the easier it will be to impress and/or confuse people.
The rational response is to ask where this money is coming from. Although the more sage readers of this blog will know the answer to that; at some point and in some way, all the money spent by our politicians comes from us. Me and thee. So, we're going to spend 1.1 trillion dollars on nebulous schemes devised by amateurish politicians to save the world from a perfectly natural downturn in the economy. Fucking magic.
On some levels, I suppose it is inevitable - our leaders are so disconnected from the real world in their G20 bubble; a place where $1.1 trillion can be spent without consequences. They remind me of a bunch of kids with the world's biggest lego set. They are playing with their buildings and their bricks and their people. The problem is we aren't actually lego. We are real people. And the leaders involved in the G20 are gambling $1.1 trillion of our money on a stimulus package that flies in the face of economics, history and common sense.
Jesus fucking Christ, I hope against hope that this works. Because it is far too fucking expensive to fail.
Labels: Economic, G20, They don't work for you
posted by The Nameless Libertarian @ 9:05 am
6 Comments
6 Comments:
I wouldn't worry too much. It's not real.
Well, this money will be spent, but we still don't know exactly WHO is going to spend it and WHEN they are going to spend it.
I'm betting that Brown doesn't want the British public to know how much more debt he has just piled onto us.
Yeah, and you would have thought that the WHO and the WHEN would be pretty important at the moment. Particularly when you are talking about $1.1 trillion.
No, it won't work. You can't borrow on your credit card to pay your credit card bill and expect anything other than fiscal diasaster. When you reach your card limit, the game is over. All you are left with is repayments and no spending power.
So Brown and Co can (mis)spend all this money borrowed from the future. They can merrily piss it up the wall on grand projects, but in the end the money will run out, and as the repayments kick in, that will be money denied to the market through taxation, so there will be no recovery.
We are screwed. It's over. There is a distinct possibility that in a few years the only safe penson plan / savings scheme will be to invest in tinned food and shot gun shells.
, Anonymous Anonymous said...
No, it won't work. You can't borrow on your credit card to pay your credit card bill and expect anything other than fiscal diasaster
You can if your "John Bull" Printing set does Bank notes
The whole sham is just to make sure that funds are available when UK goes begging again, sometime soon.
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