Bring It On!

Suck It Up!

August 7th, 2008 | by Paul Merda |

That’s the message from Steve Chapman of Reason magazine about the economy.  Its not that the economy is bad, hell its growing, it is the fact that we Americans have lost wealth and continue to do so due to the higher costs of gasoline and reduced value of our homes.  Now that our homes are losing value, there’s less equity to draw from to lead the same lifestyles we were just a couple of years ago which is why we complain…  Basically we have less money and nothing government can do will make it better for us.  When the Economy contracts, government CAN do something, when real wealth disappears and they try to do something, it is only illusory…

“…when wealth goes up in smoke, the government can’t necessarily bring it back. If it tries, the effect is likely to resemble what happens when you give a recovering alcoholic a drink: deceptively pleasant at first, but ultimately calamitous.”

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  1. 3 Responses to “Suck It Up!”

  2. By Cranky Liberal on Aug 7, 2008 | Reply

    Amen to that too brother. Sometimes the best thing that can be done is nothing. At least not the full scale pandering that is going on this year. The only thing I tend to agree with is a 1 time windfall tax on the Oil firms because I look at that as basically taking back the insane tax breaks they have gotten at the same time they raked in record profits. You know think of it as a tax rebate returning OUR money to us.

  3. By Paul Merda on Aug 7, 2008 | Reply

    I am not opposed to something like that at all. It does seem ridiculous to give the wealthy oil companies more of our money in the forms of tax breaks…

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