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Heartlander · 80-89, M
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Heartlander · 80-89, M
@ImDone Hmmm .... I think most community colleges offer accounting classes for the financial clueless. You should maybe sign up for one of them. Corporate and business profits are mostly used to lower prices, grow the business, give employees raises, pay stockholder dividends, open new plants, etc., etc., etc.
Bill Clinton's "economic achievement" was financial trickery achieved by merging Social Security trust funds with the national debt. SS had a surplus needed to cover the baby boomers that would be crossing the finish line a few years later. The Clintons used that surplus to disguise the national debt. The result in reality was to put Social Security in jeopardy. For those who now have to continue working beyond the age of 65 to be fully qualified for Social Security please send Bill and Hillary Clinton a thank-you note.
Of course that had little impact on money in American pockets at the moment, so for that Democrats started watering down mortgage backed securities, and that sent home values up-up-up, and sent homeowners to the bank to refinance their homes with bigger and bigger mortgages. That did put money in the people's pockets and they rushed off to spend it. But then some smart people who did take accounting courses figured out that the mortgage back securities were way-way-way overvalued (thanks to politicians pretending they were AAA+ quality when some were really junk-bonds), which meant that banks, insurance companies, and others who invest in such instruments were suddenly insolvent.
What the Clintons call economic policy the rest of us call a "sham".
Bill Clinton's "economic achievement" was financial trickery achieved by merging Social Security trust funds with the national debt. SS had a surplus needed to cover the baby boomers that would be crossing the finish line a few years later. The Clintons used that surplus to disguise the national debt. The result in reality was to put Social Security in jeopardy. For those who now have to continue working beyond the age of 65 to be fully qualified for Social Security please send Bill and Hillary Clinton a thank-you note.
Of course that had little impact on money in American pockets at the moment, so for that Democrats started watering down mortgage backed securities, and that sent home values up-up-up, and sent homeowners to the bank to refinance their homes with bigger and bigger mortgages. That did put money in the people's pockets and they rushed off to spend it. But then some smart people who did take accounting courses figured out that the mortgage back securities were way-way-way overvalued (thanks to politicians pretending they were AAA+ quality when some were really junk-bonds), which meant that banks, insurance companies, and others who invest in such instruments were suddenly insolvent.
What the Clintons call economic policy the rest of us call a "sham".
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