In My Newspaper

[x-1013-x.livejournal.com]

This was in the opinion section of my local liberal rag newspaper today. I thank this Philip for taking a stand against the teeth-gnashing idiots in my city. Of course, the liberal time wasters are going to rip him a new one on the internet forum, but at least he said his piece.

Job interview

"Can I have a job?"

"We would hire you, but we have no money," answers the business owner.

"I tell you what," says the applicant. "I will borrow the money from China and give it to you, and you can hire me until the money runs out. How about it?"

"Sounds great," says the owner.

"Even better, I will make my children pay for it with quadruple interest," says the job seeker.

"Wow, what do you call this program?" the owner gratefully asks.

The laborer replies, "Why, it's the Obama stimulus package, what else?"

PHILIP L.

Comments

[scarletumbrella.livejournal.com]

o.O I'm starting to regret not keeping up with the news on this thing... Are they really proposing borrowing the $$ for the stimulus package from a communist country?

[i-am-pellucid.livejournal.com]

That's where almost all of our debt goes.

[scarletumbrella.livejournal.com]

Ugh. :(

[sameinanylingo.livejournal.com]

Yeah, in the form of China purchasing treasury bonds from us. The thing is, China's having money issues of its own and many not be in the position to keep investing in bonds from us.

[arkadelos.livejournal.com]

As well as our other money. Just think of all the products sold her that say "made in China"

[i-am-pellucid.livejournal.com]

At least when people buy Chinese products they're giving China money for a product or service. Free market and all. I just wish we wouldn't take giant loans from them.

[sameinanylingo.livejournal.com]

Technically it's not really loans. They buy treasury bonds from us.

[i-am-pellucid.livejournal.com]

If it works like a loan, and we have to pay it back like a loan...

[sameinanylingo.livejournal.com]

It doesn't work like a loan. It works as them investing in bonds from the treasury. They can't be cashed in until they're mature.

I'm not saying it's good because they're investing in money that really isn't there at the moment and should they ever decide to cash in the ones they have that are mature then we could be in a real bind. However, we also buy bonds from other countries and would most likely turn around and cash those in.

But it isn't a loan. And it doesn't work like a loan.

[i-am-pellucid.livejournal.com]

It operates on the same fundamental principle: You give us money now, and we'll give you more money later. The details aren't identical, but the implications are.

[sameinanylingo.livejournal.com]

Yes, the implications are the same as in we eventually owe China money. All I said initially though, was that it's "technically" not a loan.

A loan implies that we go to China and say hay, can we borrow X amount of dollars. And then we're on a payment plan. And that's not how it works. That's all I was saying ... I was speaking of the technicalities because there are a lot of people out there (not implying that you're one of them or anything) who don't understand how it actually works. And there are a lot of people who don't realize that the U.S. buys bonds from other countries the same way China buys them from us.

[gotsparkly.livejournal.com]

Hahahah

[dustybinx.livejournal.com]

Kudos to Philip.

[la-christine.livejournal.com]

What liberal rag was this in?

This is great.

[x-1013-x.livejournal.com]

The courier journal in Louisville Kentucky. It's not worth the paper it's printed on most of the time.

[sameinanylingo.livejournal.com]

Isn't THAT the truth! Have you noticed that it's getting smaller and smaller too? I remember when I was a kid and the Sunday paper was HUGE!

I occasionally pick it up on Sunday at Kroger once they mark it down to $0.99 for nothing but the ads and the coupons. That's about all it's good for anymore :P

[la-christine.livejournal.com]

It can't be any worse than the San Jose Mercury News and the San Francisco Chronicle.

[kimana83.livejournal.com]

SO TRUE. How do people not see that?!