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While Talking About Keynesian Stimulus, Feds Are Really Just Giving Money to the Big Boys
George Washington Blog
Wednesday, July 8, 2009
Keynesians like Paul Krugman say that fiscal stimulus will get us out of this economic crash.
Austrian economists like Mish say that the Keynesians are wrong, and that they erroneously think that stimulus spending is a “free lunch”.
But – whether you agree with Keynesians or not – the fact is that what the government has actually been doing is spending our money on helping out the big boys, and spending next to nothing on even trying to stimulate the economy. The government is giving trillions to the big banks and financial giants, but almost zero to the working people.
Specifically, the stimulus bill was $787 billion, which is less than a tenth of the money thrown at the financial elites.
The lion’s share of the $787 billion was for pork, not for anything which could actually stimulate the economy.
Of the $787 billion, only about 10% has been spent so far.
(ARTICLE CONTINUES BELOW)
The Government Accountability Office says that the $787 billion stimulus package is not being used for stimulus. Instead, the states are in such dire financial straights that the stimulus money is instead being used to “cushion” state budgets, prevent teacher layoffs, make more Medicaid payments and head off other fiscal problems. So even the money which is actually earmarked to help the states stimulate their economies is not being used for that purpose.
Stimulus? Where’s the stimulus?
So when Obama’s economic people say we need another stimulus program, they are pretending that the government has tried – in good faith – to stimulate the economy, but that they’ve underestimated how severe the economic problems are.
In fact, the government has simply undertaken a massive redistribution of wealth from the little guy to the big boys. That is not stimulus. That is robbery.
Don’t believe me?
Okay, but leading economist Dean Baker said the true purpose of the bank rescue plan is “a massive redistribution of wealth to the bank shareholders and their top executives”.
And Nobel economist Joe Stiglitz says the Geithner plan will rob US taxpayers.
And congressman Grayson puts it succinctly when he demands “Stop stealing our money!”
The fact that lobbyists from the financial industry have paid hundreds of millions to Congress and the Obama administration is clearly just a coincidence. See this, this, this, this and this.
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19 Responses to “While Talking About Keynesian Stimulus, Feds Are Really Just Giving Money to the Big Boys”
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July 8th, 2009 at 11:45 am
If the Good ‘ol Big Boys get the money. Wont it trickle down like it did in Reaganomics?
Why were the 1963 US Notes removed from circulation?
Madman Reply:
July 8th, 2009 at 12:34 pm
Reaganomics killing me, Reaganomics kill you…
Reaganomics killing me, Reaganomics kill you…
Killing YOU..
D.R.I
Stop stealing our money… too late, it’s all gone, they are just snagging the little the couldn’t carry off in the first looting.
The only way to stop looting… is a word that rhymes with looting.
I loved D.R.I’s song Madman…
He’s old and cranky and he’s got white hair
He yells at us in his underwear
He’ll attach you like a crazed bear
But come on in, don’t be scared
Mad man, he’ll kick down the door
Mad man, he’ll call you a whore
Mad man, he’ll brand you a slut
Mad man, he’ll kick your butt!
Social Viability Reply:
July 8th, 2009 at 1:49 pm
It won’t trickle anywhere if the bankers send the money offshore to hide in safe assets while the US Dollar collapses.
Are you really trying to defend the Federal Reserve for giving billions upon billions of dollars to themselves and their cronies?
Are you really trying to defend the legitimacy of a system whereby private central bankers create new money, claim it as their own and then LEND it to you your government and the business that sell you goods and services?
Really?
Don’t fight the system:
Replace it
http://socialviability.com/
Madman Reply:
July 8th, 2009 at 3:03 pm
There’s only one way to stop the looting…
replace the L with SH.
It’s gonna be a bumpy ride… see ya at the bread lines soon. I’ll be the ones calling us ALL cowards, for not standing up sooner.
william b travis Reply:
July 8th, 2009 at 11:52 pm
reaganomics is supply side economics
keynesian is the opposite theory
July 8th, 2009 at 1:40 pm
Fuck
Madman Reply:
July 8th, 2009 at 3:04 pm
add an ed to your one word summery of the situation and you have what the American people are…
F*cked.
templi Beholder Reply:
July 8th, 2009 at 7:43 pm
So we’re getting on par with most of the rest of the world. Its about time I guess.
July 8th, 2009 at 2:34 pm
The Illuminati, High level masons etc have been telling you all blatantly what is going on, you are all just not listening.
Here is an example of their message which is pretty damn blatant! Hidden in the bible well scattered though it, is the truth but to the average lay person it means nothing, that is until you understand what some of these terms mean. I will list some of the verses and then explain them to you…..
Deuteronomy 33:19 They shall call the people unto the mountain; there they shall offer sacrifices of righteousness: for they shall suck of the abundance of the seas, and of treasures hid in the sand.
Ezekiel 20:33 As I live, saith the Lord GOD, surely with a mighty hand, and with a stretched out arm, and with fury poured out, will I rule over you:
Ezekiel 20:34 And I will bring you out from the people, and will gather you out of the countries wherein ye are scattered, with a mighty hand, and with a stretched out arm, and with fury poured out.
Ezekiel 20:40 For in mine holy mountain, in the mountain of the height of Israel, saith the Lord GOD, there shall all the house of Israel, all of them in the land, serve me: there will I accept them, and there will I require your offerings, and the firstfruits of your oblations, with all your holy things.
Revelation 14:4 These are they which were not defiled with women; for they are virgins. These are they which follow the Lamb whithersoever he goeth. These were redeemed from among men, being the firstfruits unto God and to the Lamb.
John 6:53 Then Jesus said unto them, Verily, verily, I say unto you, Except ye eat the flesh of the Son of man, and drink his blood, ye have no life in you.
The bible is code and if you don’t know this, then you don’t understand it…..
OK the Sacred Mountain is Gods Phallus, this is what all the obelisks are about they are really worship of Gods big ….When they offer the sacrifices of righteousness, they are talking about the firstfruits. The first fruits are people, woman of a certain blood type or colour? Who are the treasures hid in the sand. These are ” The firstfruits of your oblations” what this is talking about is the Illuminati or top level Templar’s and Masons treasure which is a breeding programme. That is what this whole world is about, certain types are wanted and they have been carefully breed….. you can tell who isn’t wanted by the fact these countries don’t have welfare and if anything they are trying to kill them off. Unfortunately to many people God does not exist and the people who do believe believe something that is not true. They believe in one God and this God is the creator of everything. This maybe true that there is a supreme Divine I created all but that is not who the bible is talking about, the bible is talking about a race of beings. Who have breed with us and changed us…
Genesis 1:26 And God said, Let us make man in our image, after our likeness:
Genesis 6:1 And it came to pass, when men began to multiply on the face of the earth, and daughters were born unto them,
Genesis 6:2 That the sons of God saw the daughters of men that they were fair; and they took them wives of all which they chose.
Genesis 6:4 There were giants in the earth in those days; and also after that, when the sons of God came in unto the daughters of men, and they bare children to them, the same became mighty men which were of old, men of renown.
Now here is the short and the long of it. This is one long breeding programme and the breeding programme is about to finish and then the harvest will be on…
Revelation 14:14 And I looked, and behold a white cloud, and upon the cloud one sat like unto the Son of man, having on his head a golden crown, and in his hand a sharp sickle.
Revelation 14:15 And another angel came out of the temple, crying with a loud voice to him that sat on the cloud, Thrust in thy sickle, and reap: for the time is come for thee to reap; for the harvest of the earth is ripe.
Revelation 14:16 And he that sat on the cloud thrust in his sickle on the earth; and the earth was reaped.
Revelation 14:17 And another angel came out of the temple which is in heaven, he also having a sharp sickle.
Revelation 14:18 And another angel came out from the altar, which had power over fire; and cried with a loud cry to him that had the sharp sickle, saying, Thrust in thy sharp sickle, and gather the clusters of the vine of the earth; for her grapes are fully ripe.
Revelation 14:19 And the angel thrust in his sickle into the earth, and gathered the vine of the earth, and cast it into the great winepress of the wrath of God.
Revelation 14:20 And the winepress was trodden without the city, and BLOOD came out of the winepress, even unto the horse bridles, by the space of a thousand and six hundred furlongs.
How this works is this the Gods by milking women and exchanging food with them manage to break the laws of nature and stop the aging process and this is called “rule the nations with a rod of iron” That is what that phase means. Now the Illuminati don’t get sacrificed, no they give the first fruits and get to “suck of the abundance of the seas, and of treasures hid in the sand. ” eg the combined bounty of product made by the Gods and the woman is given to them as a big gift or reward for thousands of years of watching the breeding programme and aiding it and for finally handing over the firsitfruits to the Gods. “Except ye eat the flesh of the Son of man, and drink his blood, ye have no life in you” This is what this means, unless you get this food you will quickly die like all the rest of us are doing and have done for thousands of years.
Revelation 16:6 For they have shed the blood of saints and prophets, and thou hast given them blood to drink; for they are worthy.
That is what the above verse means. This message is in films, here is a short clip showing you this message….
http://www.youtube.com/watch?v=4xqR88aoJ28
former model Reply:
July 9th, 2009 at 4:03 am
I want to smoke the same thing you are
July 8th, 2009 at 3:29 pm
Does n’t need a Rocket Scientist to figure out that the cost of bailing out individual men in the main street, is way cheaper than the current corporate bail outs that we are mute expectators of.
Besides who would have ever thought that the Banks who are the architects of the crisis are not ony being rewarded via the bail out packages for their crimes, but are taking real big bonus for their corpoaret crimes.
ATALS SHRUGGED ( wiithout any doubt) didn’t it?
July 8th, 2009 at 3:49 pm
eventually we will make them all pay and it aint gonna be pretty
July 8th, 2009 at 3:53 pm
be patient the wheels of justice turn slowly
July 8th, 2009 at 4:02 pm
When Black Friday comes
I’ll stand down by the door
And catch the gray men when they dive from the fourteenth floor
When Black Friday comes
I’ll collect everything I’m owed
And before my friends find out I’ll be on the road
When Black Friday falls you know its got to be
Don’t let it fall on me…
July 8th, 2009 at 7:41 pm
They will unleash huge mutant gold colored mosquitos from New York.
July 8th, 2009 at 8:58 pm
Hello i know this is the wrong page to say this but i think its very important
This is an interview jane bergermiester (has files Charges against WHO and UN for Bioterrorismshe) did last week after her interview with Alex Jones got canceled
youtube: 8AN_yKkRHH8
Alex needs 2 get her on the show ASAP
July 8th, 2009 at 8:59 pm
Hello i know this is the wrong page to say this but i think its very important
This is an interview jane bergermiester (has files Charges against WHO and UN for Bioterrorismshe) did last week after her interview with Alex Jones got canceled
youtube: 8AN_yKkRHH8
Alex needs 2 get woman on the show ASAP
BRASS BALL Reply:
July 9th, 2009 at 4:51 am
Yea hire the mini skirt tramps from Fox News, sex sells and it don’t matter to them what side their on just as long as they get cash and fame. Alex will hve to wait until they get a few wrinkles before Fox cans them, it will save Alex a lot of money.
July 9th, 2009 at 4:47 am
Whats wrong with you people? don’t you know it takes a lot of money to buy up, all the infrastructure, prime property and pay to set up for the multitude’s of new task masters that are coming to a neighbourhood near you.