Tax/Lend Insanity

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Albert Einstein probably said:

The definition of insanity is doing the same thing over and over again and expecting different results.

First, I'd like to introduce the underpants gnomes:

As these banks and institutions are reinforced and supported with taxpayer funds, they must meet their responsibility to lend, and support the American people and the U.S. economy.  It is in a strengthened institution's best financial interest to increase lending once it has received government funding.

- Source: White House tells banks to stop hoarding money

Got that?  Here are the steps:

  1. Government "supports" banks by taking $2,000 from every man, woman, and child in America.
  2. Government urges banks to increase lending to "support" every man, woman, and child in America by lending the money they just taxed back to them.
  3. Profit!!

Here's an analogy from the underpants gnomes when they only planned corporations and before they figured out what step 2 was:

By the time they figured out step 2, the underpants gnomes had moved on to planning governments instead of just planning corporations.

Somehow, we can tax and lend ourselves to prosperity.  Does anyone else still think this is a good idea?  I'd really like to know!

Posted via email from Anthony Martin's Weblog


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