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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: John Carragher who wrote (42995)12/19/2005 6:25:40 AM
From: Elroy Jetson  Read Replies (1) of 116555
 
Borrowing money to throw into a furnace, or to waste on a war which does not affect our national interests, does not keep us out of a recession.

Its like a financially irresponsible person who maintains a lavish lifestyle they cannot afford through home equity loans and increased credit card balances.

It might feel good for a while and you might feel its keeping you out of a depression, but your depression will be greatly magnified when you realize that your desperate attempt to avoid reducing your lifestyle, to what you can actually afford, has mortgaged all of your tomorrows and all of your children's as well.

If Bush had chosen to finance his fiasco in Iraq honestly, a character trait he appears to lack, he would have imposed an income tax surcharge to cover the $500 billion spent so far. Your illusion that war spending and other waste helps you avoid a recession would be quickly unmasked when it is offset by a $500 billion tax increase.

Instead, Bush decide to charge the wars to the National Credit Card. In doing so, gullible people can become convinced that the spending is free and is actually "helping the economy" rather than "devastating the nation financially" which is the actual truth.

You can't be so naive as to believe your own arguments.
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