RWWNL — Terry Wilken writes: We have come to the end of our options. It seems that our leaders will just stay with the status quo. That sure seems like a good option. Every idea is immediately turned down. It just so happens that the dollar is losing its value. What are we to do? I think that the answer is to change the currency to bitcoins.
Bitcoins have increased in value while all other currencies have gone down in value.
But then I realized if I were a real congress person, I would have to say NO! NO!
We cannot have bit coins as our new currency. Think of all the little people that we would offend. We cannot have that. A little bit of nothing. That sounds bizarre. We cannot have that. It is too confusing. I would vote NO.
Remember when W started bailing out the auto industry, or at least GM and Chrysler? H took all the credit, but then who would question him. When it happened, I called the White House and asked for H. He was not available, but I told them that since I was now an investor in these auto industries, that I wanted to apply for my stock certificates. I explained that I was a taxpayer and stockholder, and that I thought I should have a say in how they did business in the future. They took my address and told me that they would send me an application if one became available. I still have not seen one yet.
If I had been asked about the taxpayer car business, I would have voted NO on this issue. It might have prevented this.
Not to worry, let’s bring back the suprime loans. If you thing subprime loans are not happening, then guess again. Remember when the housing market needed a kick from behind, so Congress said that the banks had to loan to everyone. Even if the borrowers had no money and bad credit. It created a banking crisis to end all banking crises. The government then bailed out the banks, but they forgot to bail out the homeowners.
Remember TARP? It was supposed to do away with all the toxic assets. The non-performing house mortgages. They just gave the banks money to strengthen their balance sheet. They did not fix anything. Now it is starting all over again. It is good business practice to loan to people that cannot afford to pay you back. Is not this true?
So let’s try subprime auto loans. That sounds like a great idea to me.
No what we need is more QE added to our moribund dollar. That will certainly get the economy moving. All we need is for the government to get busy voting for new stimulus spending or investing in new projects. They can ask the Fed to add more dollars to the mix. That will certainly fix everything. If you thought the Fed was going to quit QE, Then guess again. The Fed cannot stop QE. If they do, interest rates will go up. This will lower the value of their bonds, and not do a good thing for the banks either. If no one wants to buy what you are selling, even if it is money, it is hard to stay in business. Learn more here!
So if you elect me to congress, I promise to vote NO!
I will refuse to come up with any ideas of my own. I will just vote NO. It is better to just pound the table. If I do it right, I will not even hurt my hand. (06/07/11)