Thursday, February 12, 2009

They Should All Be Asking These Questions

Update : Meanwhile What happens to all that loose money when the economy goes on again?

From .... Canadian Press

TORONTO - As several provinces prepare to wade into red ink as the spring budget season approaches, there are new warnings that the cost of borrowing may go up if governments don't show a plan to return to balanced budgets once the economy recovers.


The meaning of this?

Remember the 1980's ? Remember sky high interest rates and spiraling inflation?

It starts with Government Spending and Debt!
Refresher course in Economics 101 :

Governments do not produce wealth. The only wealth that governments have is what they take from the productive population. Every dime a government borrows is a dime that ordinary citizens owe. It's ALL YOUR money.


Oh yes! If they were paying attention .... they'd have listed Manitoba as well.

OMMAG

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3 Comments:

Blogger talnik said...

Now, if I'm and American posting on a Canadian's blog, and I write the only way to fix this mess is to start hanging...no, never mind. Putting up wallpaper never solved anything.

2/12/2009 6:12 PM  
Blogger OMMAG said...

Well ... the gratification derived from certain forms of extreme retribution may be satisfying.

But only temporary...

On the other hand by eliminating each and every problem that contributes to a mess... you can be pretty sure that mess will eventually be completely cleaned up.

2/12/2009 6:16 PM  
Blogger Lost Johnny said...

All I know is to get my family out of debt, I don't borrow more to spend more. I guess this is lost on big government....

2/13/2009 5:51 AM  

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