IT CAN’T HAPPEN TO ME. GUESS WHAT? IT WILL!!
Chapter 13
QUANTITATIVE EASING: (QE) WAKE UP!
Quantitative easing one and two have sent us down the path the Japanese have trudged. It is well worn with no weeds or grass, just plain old dirt.
We had a depression right after WWI. Warren G. Harding was president. He said we could earn our way out. Harry Truman lost his men’s store and went to the library and read every book in it. Herbert Hoover tried the same thing, but when it came to his programs the democrats stalled his programs waiting for a new president. The new president (FDR) and his “New Deal” were working until he raised taxes in 1938. Someone had to pay.
My contention is this. The government is our parent or umpire. It sets the rules of “Fair Play”. They should be enforced and violators banned.
QE’s are a bureaucracy. This is how they started way back when.
When Marco Polo came back from China, he was imprisoned because the Chinese were so far ahead of the rest of the world. He wrote notes on toilet paper that were sneaked out and read by the public. He was eventually released and the rest is history.
So what happened to China? They had the wheel, gunpowder and paper before the rest of the people on earth- way before the year one.
I think it started in the Chi dynasty. They wanted the best and brightest of all of China to run the country. So they gave tests to every child all over the country and the winners were brought to the capital to learn and study. That they did. Then as they grew up they married. Their children were then sent to special schools so they could do better than the average Chinese child.
Guess what? The Chinese also invented bureaucracy! So the way we are going in the year 2012 we will be like China in 4025!
To jumpstart the economy we must institute a “FAIR PLAY” AND this will send 100,000’s of dollars to every citizen living in the United States of America. The proviso is that they must pay down all debts minus interest. Bring back the USURY Laws and spend the monies as they see fit while saving 10%.
Thus banks that are “TOO BIG TO FAIL” will all of a sudden be divesting themselves. Too many companies have over expanded and therefore they became protected by the government, because they were “TOO BIG TO FAIL”. BALDERDASH!!!!
If your neighbor borrowed money from you and was in trouble, would you not be happy to receive the principal BACK?
A BANK IS SUPOSSED TO BE THE PROTECTOR OF ONE’S MONEY. All those monstrous salaries could be used to pay dividends and interest on deposits. Banks who have honest earnings should then meet a standard where they qualify for salary increases based upon performance of the bank – not the stock price.
Our banking system needs reform from the bottom up. The Federal Reserve Act does not cover how banks are run internally. That is a positive.
We must self-regulate so that Congress is a happy bystander.
These chapters are “food for thought”. I try to keep them concise and swift in thought. It is up to you, dear reader, to embellish upon the themes.