Posted 5 years ago on Sept. 17, 2012, 12:21 p.m. EST by frogmanofborneo
from New York, NY
This content is user submitted and not an official statement
First I regret that due to health issues I cannot be at September 17. My heart and thoughts and hopes are with you all. Be safe and give them hell.
Now to the point: I was talking with my wife about how we might or might not be able to pay our debts. It occurred to us that Ben Bernanke has taken this on for us. Let me explain:
Bernanke has decided to gift $40 Billions per month to the banks we "owe" money to. Well, who is ultimately going to pay for this gift? In their dreams the one percent suppose that the 99 percent will. Do you know how much $40 billion dollars is?
Well if you divide 40 billion by three hundred million citizens and residents of the United States you get $133.00. So, Bernanke is gifting the banks $133 for each man, woman and child who resides in this country. For my household that's 133 x 4 = 532. Five hundred and thirty-two bucks a month indefinitely into the future from me, my wife and our two kids until who knows when? And one day we get to pay it back? I don't think this is fair or moral even if they can twist things around to make it "legal." IMHO Bernanke is paying off our unsecured credit cards and student debt certainly in any moral or ethical sense. Thanks, Ben. We needed that.