Ever pick up a seemingly perfect apple only to start peeling it to find some small bruises underneath the skin. Of course you can continue to peel the apple, grab a small paring knife and cut away the rotten parts. What you will be left with is a delicious apple.
But imagine you are told to stop peeling that apple immediately, glue the old skin over it and wait until the rotten part reverts back to good apple. Ridiculous huh.
Well that is exactly what we are doing in the economy. In late 2006, the first layer of the rotten housing market was revealed, sub-prime. And rather then continue to peel the apple of housing, revealing all the rotten and bruised portions we have been told these rotten parts are only temporary, just stop peeling and surround the rotten parts with additional apples waiting for the good ones to cover for the bad until they all miraculously turn good.
There are two types of people who don’t like throwing $700,000,000,000 of our apples into a basket with all the bad apples.
The first, like myself, have spent years studying finance and economics, look carefully at the legislation and can form smart arguments about why this plan will not work.
The second, and far more important, is the average “Main Street” American who isn’t confused by all the details. They simply recognize the extortion for what it is. For them it’s simple. They DO understand that Wall Street impacts Main Street. In fact they feel better if Wall Street might actually share their economic misery.
And are you for it? They you must be scared and trust the same con-artists who got us into this mess or you ARE the con-artist.
Additionally, all you Supply Siders were sorta right. Except rather then the billions made by the rich trickling down, the economic suffering of the middle class over the last ten years is trickling up.
Now that is something that everyone should understand.