Innocent Bystanders has been tracking the actual unemployment rate these past few months against what Team Obama said would be the unemployment numbers if the Trillion Dollar Stimulus package passed, and what it would be if it didn’t pass. Holding the country hostage via fear, uncertainty, and doubt? You betcha. It’s one thing if it would have worked, but guess what? They weren’t even close. So wait, these are the smart guys we’re supposed to trust, like, way more than the last guys?
This is from Bloomberg today. So far, the Fed and the Federal Government has dedicated 12.8 trillion dollars to “stimulus” type packages. It’s just numbers now, isn’t it? This has become so disconnected from reality that really, is there anyone that internalizes this stuff any longer? Here’s the key: $42,105 for every man, woman, and child in the United States. That’s what we’re on the hook for. Think about that figure for a minute. Now, admit it: it can’t be real, right?
As Glenn Reynolds has been saying, “The country is in the very best of hands.”
OK, I’m now actually more than a little worried about what’s going on with this stimulus bill. A bit of background first. There are always people out there that are freaking out, no matter what the government is doing. The end is always nigh, as long as you go looking for the doomsayers. They have been right once in the past 100 years — the Great Depression. Every other time? Wrong. What’s potentially different this time than all the times they’ve been wrong in the past? This huge stimulus package that congress is about ready to pass? Of almost 100 trillion dollars? It’s all just extra dollars that they (the Fed and the federal government) created out of thin air (thank you Disciplined Investor podcast for explaining this for me). Why is that scary? You know, other than the fact that Zimbabwe and other crackpot dictatorships do this regularly? It puts massive inflationary pressures on our economic system. You think this is all free money, since your taxes aren’t going up to pay for it? You will, it’ll just be invisible, due to less purchasing power for your dollar over the next several years. This is not good. At all. Maybe there will be other huge pressures countering the inflationary pressure — I don’t know. I hope so. I just get the feeling that there’s a butcher’s bill coming due at some point, and we’re not going to be able to avoid it completely.