Sunday, July 11, 2010

Words with Linda

If you go here and click on the "Regular Job" video, about 24 seconds into her 61-second commercial Linda McMahon says

We're losing jobs because Washington politicians are
spending money we don't have.

Money we don't have. That's exactly what I've been saying, Linda. The Federal Reserve restricted the growth of money in order to fight inflation. But they restricted it too much. And that, Linda, is why we don't have money.

Nobody believes that, because of the inflation. Everybody thinks there must be too much money, because of the inflation. But nobody has money, Linda. Taxpayers and governments struggle over tax dollars; and business is not good.

Taxpayers know taxes are too high. Governments know revenues are insufficient. Businesses know income and profits are too low. No sector of the economy has the money, Linda. All sectors of the economy agree, or could agree that money has been excessively restricted by the Federal Reserve. But instead, we fight over taxes and spending.

You're right, Linda: Nobody has money. We all use credit. We all have debt. Nobody has money.

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