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Zero interest on printed money? Americans comment
I feel lazy today in the rain, but I was stirred by these reader's comments out of over 230 comments regarding the Federal Reserve, administered by a Southerner, resetting its overnight rates to zero and announcing its willingness to print an endless money to fight deflation. If the economic policies make little sense, maybe these comments will make clear the views of other Americans on the gird.
So from the New York Times, here's a cross-section of the American conversation about the economy:
December 16, 2008 3:13 pm
We have now entered the realm of the very scary.
Tom K., Chicago, IL, Recommended by 78 Readers
This economy, however, is a lucky thing for George W Bush. His presidency - or is it Cheney's - used to have two major legacies: Iraq War and Katrina. Now he's got three: Iraq War, Katrina, and a collapsing economy. He will surely be remembered by the history books. Even President Hoover could not beat him.
Steve Chan, Los Altos Hills, CA, Recommended by 142 Reade
December 16, 2008 3:13 am
To date, nothing has been done to help the people. While banks, investment companies and anyone else in the finacial industry gets endless money thrown at them which WE, the PEOPLE are forced to pay for.
Gene Brady, New Jersey
December 16, 2008 11:00 pm
If Obama doesn't clean house come January 20th, I am afraid that he will just be another hand servant to this ethically and financially corrupt banking system...
Keith Walker, Portland, OR
December 16, 2008 11:00 pm
You know what no one is talking about is that true root of this problem: accrual accounting. Why did subprime securities get started? so companies could make their books look good with money that they 'would' earn. That coupled with all the monkey math that a CPA learns, you can basically come up with a document that has your company name on it but the data therein is practically irrelevant. Time to go back to a cash based system and a simple financial report form is unified and is easy to read. Any comany that deviates more than 3% any listed amount therein- gets fined the difference.
yep yep, NY NY
December 16, 2008 11:00 pm
Too many of us agree that the average American get no help from any of the existing rescue efforts. Why not ask the government to help each one of us in a very direct way, exonerate all taxes for the years 2008 & 2009 for all American that earn up to $150,000.00 this will give most of the population the necessary extra funds to pay mortgages, credit card debts & give lots of oxygen to all the recently unemployed.
Uri, New York
December 16, 2008 4:53 pm
This isn't going to restore consumer confidence. This isn't going to create jobs. This isn't going to put more money in the hands of the unemployed. This is going to do nothing.
— Stephen, Windsor, Ontario, Canada
My Obama e-book is available! Download or preview the free edition: http:www.lulu.com/content/5282127
So from the New York Times, here's a cross-section of the American conversation about the economy:
December 16, 2008 3:13 pm
We have now entered the realm of the very scary.
Tom K., Chicago, IL, Recommended by 78 Readers
This economy, however, is a lucky thing for George W Bush. His presidency - or is it Cheney's - used to have two major legacies: Iraq War and Katrina. Now he's got three: Iraq War, Katrina, and a collapsing economy. He will surely be remembered by the history books. Even President Hoover could not beat him.
Steve Chan, Los Altos Hills, CA, Recommended by 142 Reade
December 16, 2008 3:13 am
To date, nothing has been done to help the people. While banks, investment companies and anyone else in the finacial industry gets endless money thrown at them which WE, the PEOPLE are forced to pay for.
Gene Brady, New Jersey
December 16, 2008 11:00 pm
If Obama doesn't clean house come January 20th, I am afraid that he will just be another hand servant to this ethically and financially corrupt banking system...
Keith Walker, Portland, OR
December 16, 2008 11:00 pm
You know what no one is talking about is that true root of this problem: accrual accounting. Why did subprime securities get started? so companies could make their books look good with money that they 'would' earn. That coupled with all the monkey math that a CPA learns, you can basically come up with a document that has your company name on it but the data therein is practically irrelevant. Time to go back to a cash based system and a simple financial report form is unified and is easy to read. Any comany that deviates more than 3% any listed amount therein- gets fined the difference.
yep yep, NY NY
December 16, 2008 11:00 pm
Too many of us agree that the average American get no help from any of the existing rescue efforts. Why not ask the government to help each one of us in a very direct way, exonerate all taxes for the years 2008 & 2009 for all American that earn up to $150,000.00 this will give most of the population the necessary extra funds to pay mortgages, credit card debts & give lots of oxygen to all the recently unemployed.
Uri, New York
December 16, 2008 4:53 pm
This isn't going to restore consumer confidence. This isn't going to create jobs. This isn't going to put more money in the hands of the unemployed. This is going to do nothing.
— Stephen, Windsor, Ontario, Canada
My Obama e-book is available! Download or preview the free edition: http:www.lulu.com/content/5282127
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