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Planting money trees is bad policy

 

Last updated 4/8/2020 at 9:22am



Rather than discussing the Governor’s egregious assaults on the 1st Amendment regarding churches and his dogmatic executive orders on what is “essential” and “non essential”, I feel that it would behoove all of us to look into what the Federal Government is up too.

Growing up in the 1950’s, on of my Mom’s sayings was: “money doesn’t grow on trees”. Well, it looks like Congress, with the approval of the President, just planted a $2.2 trillion dollar tree. The tree planting took a short time and the tree will be ready to harvest fruit in the form of $1200 checks from the IRS in a month or so. I am impressed! That must have been some potent fertilizer (if you get my drift) to get that type of yield from the tree.

Meanwhile, back at the DC Ranch, the Federal Reserve System is bringing back “quantitative easing” to help. I am sure that they will use the the same methodology as used for the 2008-2009 financial crisis. This too, will cost $trillions. Back in 1968, I took Econ. 210 at college and all I will say is that this is bad monetary policy and is “voodoo economics.”

Not to be out done, Congress and the President are now proposing a $2 trillion infrastructure package. Proposals are being made, potential lines are being drawn in the sand and the partisans are warming up for the fight. Even the ghost of the “cast idol” overlooking the lake by the pumping station is being brought up to describe the the effort.

The question still remains: “how many of these tree’s can we plant till the soil no longer is able to sustain?”

John Overby

Belvedere

 

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