Thursday, May 01, 2008

The pocket calculator reveals the truth

A spendidly indignant Karl Denninger explains how the $600 "stimulus cheque" sent to American taxpayers will be more - much, much more - than paid for, by higher borrowing costs.

Where are the forthright Cassandras on this side of the Atlantic? Are they silent because nobody here believes in our country?


Anonymous said...

It is still too early to know how this "bold" experiment - "the United States - of the people, for the people by the people" will play out.
For such a new enterprise as we are relatively speaking, there is a real possibility the experiment may soon end. Debt fetters freedom - Karl's straight on observation about the negative value in the stimulus checks means either our citizenry is asleep at the wheel or we have lost hope in ourselves. For our next generations' sake let us hope it is the former and that knowledgeable and articulate minds like Karl can awaken us from our slumber.


I thikn you're right, Anon. I'm not American, but my brother has just taken US citizenship and he intends to honour his commitment to passing on freedom to his children. If you give up control for luxury, soon you will have neither.

Anonymous said...

Well....... It's a bit far fetched to say that the entire rise in mortage rates from 5% to 6% comes from the $600 relief check alone.

I say he's right about his general conclusion, that the government in effect gives with one hand and takes away with the other.

But his figures.... are way off...