September 19, 2008
Dear Mr. President,
We've been so nervous about what's going to happen to our local savings and loan, Washington Mutual. And then today, we hear that you're thinking of just pulling more billions of dollars out of nowhere (Why not? The nation's already in severe debt!) to cover the debts of our failing financial institutions. While you're at it, could you also pay off our debts? You can start with our student loans, since the money is actually owed to the government you oversee, rather than to private investors. Just wondering.
Thanks so much, and good luck!
Sincerely,
Seattlest
"j money" courtesy of Seattlest Flickr user artvortices
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Kim, you baller! Student loan payments in hard cash is impressive.
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That's what it looks like right before Kim makes it rain.
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I'm just furious at this point that my Social Security account wasn't privatized. If it had been, I'd be taking advantage of this incredible stock market for the past 2 days.
Oh, wait... I would have lost about 10% of it all this year. Damn!
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Thr real rate of Social Security returns has been 1% a year for the last 60 years. Even an investing amateur could have done better than that.
The lesson here is: Everything the government touches turns to shit.
Wash. Rinse. Repeat.
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Guess you're right, ruff.
The one this this last week taught us is that the capitalist system itself, and all the institutions involved in supporting it (of course, except the govt), will always be right and produce a strong, stable, reliable economy.
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Really Ruff? You think that everything the gov't touches turns to shit?
Remember why there was Social Security in the first place?
Oh right... the Free Market tends to fail without proper controls and regulations. Deja Vu isn't just for naked ladies.
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Most people don't get exposed to free-market ideas, so they are usually contemptuous of them when they first encounter them.
We'll work on this over time.