Recent events surrounding the failure of Indy-Mac banks have caused quite a stir in the financial markets. Of course our federal government has assured all of us that they will intervene and shore up the failing financial institution to the tune of approx. $10 billion dollars. The amount itself is staggering, and of course we the taxpayer will foot the bill.
The old adage, you cannot spend more than you make seems appropriate, but how about, you cannot keep printing paper money without dire consequences!!!!
This pay, even though there is no money idea will soon run out of steam, as the dollar falls to hyper-inflation, and ends up taking a wheelbarrow full of paper money to buy a loaf of bread. Actually the best course of action for the Feds, would be to file bankruptcy, far-fetched as that may seem, and to return to the gold standard for currency.
There are those out there who believe government can cure all the ills of society, and if you believe that, why let me sell you some prime real estate in the Florida Keys, and I’ll tell you what, it even comes with your very own pet alligator……… Good day…..