I'm just wondering if anyone is keeping track of just how much NEW spending has been proposed/passed by our government over the last 6 months. Forget $700B, I count $3.01 TRILLION Here's an estimated breakdown:
Original cost of Fannie/Freddie $200,000,000,000
US guarantee to JPM for Bear Stearns $29,000,000,000
2-yr loan to AIG $120,000,000,000
Exchange rate stability funds $50,000,000,000
Increase to FDIC $500,000,000,000 (Proposed)
Authorized Fannie/Freddie to buy mortgage backed securities $500,000,000,000
RTC type portfolio for banks $845,000,000,000
Pelosi/Obama stimulus package $115,000,000,000 (Proposed)
Hurricane and Flood Victims $24,000,000,000
Detroit Automakers $25,000,000,000
Heating for the poor $5,200,000,000
Budget Increases- Pentagon/Homeland Sec/Veterans Affairs $600,000,000,000
Since none of this money actually comes in the form of payment from an account but instead the printing of additional money people need to seriously consider how inflation will be impacted in the near future.
Bottom line: Dump your variable liabilities (ARMs, credit cards, HELOCs with variable, etc). The next 10 years could easily average an inflation rate double what we are currently seeing.
Take care,
Charles
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment