In another sign that the apocalypse is upon us the New York Times is reporting that banks across the country have too much money! That’s right; they have so much money on deposit that they don’t know what to do with it all. Some banks are taking steps to discourage people from bringing them more money. Bank of New York Mellon for example, warns that it will impose a 0.13 point fee on certain depositors who are moving large stockpiles of cash for safekeeping. These are the same banks that in the wake of the financial crunch are refusing to lend money to wanting borrowers.
Just to be clear…the economy is in the tank and the only way out is for people to invest and spend. People that have money won’t spend it and in fact are hoarding their cash in banks. Banks have so much money on hand they don’t know what to do with it all. In fact they have so much cash on hand they are discouraging customers by charging fees for deposits. Yet these same banks won’t lend money to people who want to invest and spend…which would help the economy. Hmmm…
Mitch McConnell continues on his self proclaimed number one priority: “to defeat this President.” This time McConnell has stepped in it up to his hips. McConnell referred to the President’s plan to put teachers, firefighters and policemen back to work “a bailout.” Comparing the teachers that educate our children to the greedy scum that brought down the economy through schemes and illegal activities is beyond the pale. McConnell owes an apology to the thousands of teachers, policemen and firefighters who are out of work through no fault of their own.
Comedian Rick Perry is at it again. On the eve of announcing his plan to save the economy Perry played the “birther” card. When asked if he believed that the President was born in this country and therefore eligible to serve Perry said: “I don’t know…I haven’t seen his birth certificate…he hasn’t seen mine (either).”??? There is nothing like upstaging the rollout of your answer to the most important question on voters’ minds by spewing forth more “birther” nonsense. Perry just hired a couple of seasoned political operatives from the old Bush and Dole campaigns to run his operation. They’re going to need a rope and a gag.
Fellow comedian Michelle Bachmann announced her solution for the health care problem. Regarding the uninsured, Mrs. Bachmann said: “let the charitable organizations take care of them.” There…all done!
Mitt Romney was asked if he supported the “flat tax solution” to tax reform. “I love the flat tax” Romney exclaimed. The news networks are playing that clip followed by a clip from a year ago where Romney called a flat tax solution “a disaster.” Flip-flop!