PS3beats360 said:
The US economy is going down and things will get worse over there. The high tax increases in 2011 to claw back the bail outs given to failing banks and corporations. This will hurt the US economy. The flow on impact upon Europe will be catastrophic. UK recently implemented economic austerity measures which will hurt the economy. Cutting budgets and reducing debt may not stop the economy from re-entering recession over in the UK. Unemployment rates will increase in both the US and the UK when the governments increase taxes.
Banks in the US: Golden Sacks, CitiGroup and Leyland Brothers. spelling? They have a lot to answer for for all their scamming and using billions of government bail out money on bonuses. Billions in bonuses handed out to CEOs, directors and fund managers for losing trillions! Rewarding failure.
Tax payers are spewing in the US that their taxes are being used to bail out white collar psychopathic criminals. Communist/Socialist governments stealing tax payers money, stealing funds from superannuation and pensions to fund the Corporate criminals to lose the money all over again.
Get out of the US while you still can. Property values are expected to fall even lower when the double dip recession hits in 2011/12.
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Why? The government gave them the money, and they proceeded to waste it. The government gave them that money so they were free to do with it whatever they wanted.
It's just proof WHY bailouts don't work. Your giving more money to the same jackasses who messed up in the first place.
It'd be like if you tried to solve your friend's gambling or drug problems by giving him more money... it doesn't work. The money doesn't go to food or rent, it goes to gambling or drugs.
Still the moment i give my friend some money... it's now their money to do with what they want.
It was the governments fault for not putting restrictions on the money, or better yet... just letting the banks fail.
To try and put in retroactive laws or penalties is a HUGE abuse of power.