Quote:
Originally Posted by merrylander
He had me wondering about some things until I went back to the top and read the date.
Minor point, it turned out that Gaitner was using one of the tax prep programs and they all screw up on that particular tax issue.
Seems that things did not get quite as bad as he hoped, but given the date it was written - Paulson a follower of Keynes? You could have fooled me.
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I find it hard to believe that Guietner uses Turbo Tax, even a podunk like me has an account.
Whether or not Paulson is a Keynesian or not is anyone's guess. But he did work for Nixon, who took the country off of the gold standard, killed Bretton Woods, and proclaimed "We're all Keynesians now."
Now whether or not this is a bad thing is anyone's guess. Doesn't really matter, as I don't see any way back to a gold based currency without a total economic collapse.
I think the authors point is that this amount of money has never before been injected into the banking system in an attempt to prop us a fiat currency, and there are no guarantees as to what will happen. Personally, I hope and pray it works, but I expect to get screwed in the process.
Face it, I've got a little money, and you've got a little money. Now who are they gonna screw, the people who have nothing?
Chas