As we venture further into the foray of keynesian economics.....that is to say letting the government dictate through monetary and fiscal policy the direction of ones economy. As we dive head first into socialist ideals and practices (George Orwell and Aldous Huxley would be gleeful at what's transpiring in America) I have a question. When did we decide it was a good idea to leagalize Loan Sharking. I know I say loan sharking and you get visions of shady goons popping up out of the wood work and threatening bodily harm if you don't pay up, and let's not forget the juice (no I am in no way attempting to incorporate Alex Rodriguez in this blog post) you know the in ordinate amount of intrest attached for late payment. Loan sharking or Usury which is the legal term is defined differently in different states; however, in Deleware which is by far the most lax a usurious transaction would be one where the interest exceeds 30%. We dipped our feet in the pool with payday loans, and I suppose we decided the water was nice. We have now as of yesterday plunged head first into the pool of usury. What am I talking about i'm refering to the American Recovery and Reinvestment Act of 2009 aka the stimulus plan that was just signed into law by President Obama. This bill gives each American worker $1.10 per day for two(2) years. That amounts to $810.30 per person. Someone cue Kool and Gang so we can all celebrate (come on you know the song...celebrate good times come on. Really i'm the only one...it's just me.) The travesty is it cost each and every one of us $9,400.00. LOL. I'm sorry that means the government is loaning us $810.30 and we have to repay that at 1160% interest (one-thousand one hundred sixty percent). As far as I know that is loan sharking. I am actually worried that somewhere down the road it may be 10 years it may be 25 some goons from a foreign government are going to come to my house and threaten to break my legs if I don't give up the loot. Thank you Karl Marx and John Maynard Keynes for everything you've done. Moral of the story pray without ceasing I Thessalonians 5:17.
You can check me out on twitter @cjpierce
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