Notification from Ron Paul: Government as a Venture CapitalistSomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

Notification from Ron Paul: Government as a Venture Capitalist
 


19 September 2011 at 1:47:39 PM
pstern

Government as a Venture Capitalist

 

“In January 2009, the administration claimed that if Congress passed a rush stimulus bill, the United States would be saved from economic catastrophe that was threatening to send unemployment figures above 8 percent. Government stimulus was the answer and if we cared about our country, we would set aside our reservations and do what needed to be done to pass the bill. Congress passed the bill. Unemployment continued to go up and has been well over 8 percent ever since. (In fact, economist John Williams of ShadowStats finds unemployment to be closer to 23 percent using traditional methodology.) Yet some are claiming the first stimulus worked and all we need to bring back prosperity is more government stimulus…”

 

Full article: http://paul.house.gov/index.php?option=com_content&view=article&id=1913:government-as-a-venture-capitalist&catid=62:texas-straight-talk&Itemid=69

 

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Comments!  
1 - humanbeing   19 Sep 2011 @ 8:08:41 PM 

None of us will ever be able to determine whether the stimulus 'worked' or not because none of us know just what might have happened if there had been no stimulus.

Unfortunately, prolonging the inevitable (a crash that would have forced government to rout out the fraudulent, unregulated activities and break up the 'too big to fail' banks instead of propping up all these crooks) might have been a mistake afterall.


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2 - pstern   19 Sep 2011 @ 8:34:13 PM 

The "stimulus" was a joke.  Of course it didn't work.  It wasn't used properly, nor was there correct oversight to ensure that it would be.

Some companies took the federal money and held onto it, collecting interest.  Some companies used the money to provide their CEOs with large bonuses.  Few companies used the money for what it was intended.

While stimulus dollars were provided businesses, banks, financial sectors, etc., the government numbers/stats enabled the automatic freezing of Cost of Living Adjustments (COLA) to those on Social Security, VA compensation, Disability and other compensatory payments and fixed income.  Then the government increased the cost of Medicare to recipients after saying there was no COLA and after freezing increases.  How do you get it both ways?  Well, the government did.

So, I'll be the brave one who says that the stimulus was a bunch of buffalo bagels!!!

Ford Motors was the only American car manufacturer and dealship that refused the stimulus money saying it would deal with its own issues.  And that's exactly what Ford did. 

On the other hand, GM took the money and its CEO arrogantly stated that the company would NOT pay back the tax dollars and then it declared bankruptcy and closed dealerships and added to the unemployment numbers.  Then GM stiffed its stockholders and closed its shares, starting a new stock instead.  And the government permitted all this.  Americans who purchase GM cars and trucks are idiots.  We should all boycott GM and buy Ford cars and trucks!

The financial sector and auto dealers are making a fortune after getting federal tax dollars.  There still are more home foreclosures and huge credit card debt that are ringing up big dollars for these industries but the American people are hurting big time.

I'd say the stimulus was a joke.


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3 - humanbeing   20 Sep 2011 @ 5:13:46 PM 

I can't argue that, pstern, but keeping the illusion alive worked for awhile, didn't it? Afterall, isn't that what Wall Street has become?


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4 - pstern   20 Sep 2011 @ 6:25:43 PM 

I think that Wall Street has become a manipulated market for the wealthy.  The average American should stay away from investing on Wall Street in the stock and bond markets.  These days wealthy powerful people in the know can make the market rise and fall with just a few words and make millions doing it, while the little guy would lose and lose.


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