Saturday, September 6, 2008

Capitalism leads to inflation

ok, ive never taken an econ course (believe me i want to, i just cant fit it into my schedule) but ive been reading about the whole thing with china, and it just baffles me... were so far in debt, and ive always wondered, "how did we get this far in debt? who the hell do we owe money TO even??"

other banks.

you know, usury used to be frowned upon. it used to be the jews making loans to people. rarely can they be repaid. the money isnt there in the first place, how can there be 20% more of it a few months down the road?

seriously, usury is the dirtiest form of capitalism. its just more of the "make as much money as possible" mantra.
the problem is that it seems to be an american is to be in debt.
people in africa live on a few dollars a day. seriously, i couldnt drive to work on that.

back to china. so we borrow money from them. but they have very little capital, and the invest in our Fannie Mae and Freddie Mac, which are losing value.
so, a la Bear Sterns, were "bailing them out" which means, WTF:
It is not possible to calculate the cost of any government bailout, but the huge potential liabilities of the companies could cost taxpayers tens of billions of dollars
-New York Times

YAY AMERICAAA

so tell me, why do taxpayers have to cover the asses of corporate fuckups?

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