Dough for Dumps

The “Cash-for-Clunkers” program is an insult to any responsible human being. Why give cash to the folks that had such a bad taste to buy clunkers in the first place? Isn’t it enough that their actions have destroyed the environment, driven up the gas prices and created havoc on our freeways? What the government is doing is promoting reckless and bad behavior using tax payers money, my money. I’m pissed.

The $8,000 tax credit for first time home buyers is an insult to anyone that stayed away from playing the housing bubble. Artificially propping up the real estate market is a recipe for disaster down the road. Who do you think is taking advantage of this tax rebate? Uneducated, greedy suckers that have bought into the real-estate-forever propaganda. It’s not enough that I’ve to subsidies anyone owning their home both through tax deductions and through lower interest rates on my savings? I now have to pay for first-time buyers entering a market that is poised to go lower and increase foreclosures. Kafkaesque.

The same is about to happen with high-efficiency household appliances, furnaces and air-conditioning systems according to Wall Street Journal. It’s clear that the Fed and the government will do anything to prop up hard asset prices and avoid a deflation. A short-term deflation would be great for our economy but they rather keep prices flat or with a manageable inflation.

Peter Schiff is right: ”Given the fragility of our finances, we should use our resources wisely, pay down our debt, replenish our depleted savings, and make investments in time and energy that offer a tangible benefit.”

We have become a Bailout Nation. Bailing out anyone that fucks up, using taxpayers money. Wasn’t that the responsibility of the efficient market economy? To weed out the winners from the losers? I think this is what any smart person has suspected all along. When the power elite is challenged they just change the rules. It doesn’t matter what we call the system: socialism, communism or capitalism. In the end of the day it’s all design to protect the power elite and their assets no matter what.

Hmm, wonder what I could be bailed out for? Right - NOTHING cause I *have* been responsible by avoiding bubbles, not being over-leveraged and staying debt free.