Thursday, February 12, 2009

The Stimulus Scam Heard Around The World

It appears that today the stimulus scam President Obama, Congress, and The Senate have been constructing is ready.

I saw this in a press release today.

"The RealtyTrac report said nearly 67,000 properties were repossessed by lenders in January as the worst recession in decades, falling home values and stricter lending standards continue to sap the U.S. real estate market. That was up from more than 45,000 repossessed properties in January 2008, but down from 79,000 in December."

Really, is this the heart of our problem. 300 million Americans, and 60,000-70,000 lose their homes to foreclosure and the entire banking system is in crisis? I don't think so. Something else is helping this crisis along. Oil prices hit a record $150 per barrel and energy prices are on the rise. That's the real reason behind the economic downturn, not foreclosures.
How will stemming the minimal amount of foreclosures help lower energy costs? I don't know. Tim Geithner must believe foreclosures are somewhat important. Geithner has devoted 50 billion or 5.5% of the stimulus funds to stemming the foreclosure epidemic.
President Obama proposes ethanol as the key to the economic crisis. However, after reviewing the fuel efficiency of vehicles operating on E-85 I have found that it costs nearly double to operate an E-85 vehicle. I do not see how E-85 will help American realize energy independence.
We have learned that the so called housing crisis is not the real problem in America and we have learned that E-85 is not the solution to Americas growing energy crisis.

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