The number one reason behind all of these bailouts is to keep from
happening what led to the Great Depression. As for being immoral, and
wrong on nearly every level, the simple truth is that without these
bailouts, the entire US economy would collapse very quickly. And it
still might. I've been predicting since 2006 - when most people were
still debating whether or not we were in, or heading into recession -
that we would in fact enter a depression before 2010. I'm not an
economist, but I'm also not stupid. If you look past the complex trees
of arguments against a looming depression, it's quite easy to see that
the economic forest itself has been clearcut, slashed, burned, and
completely mismanaged. Taking this metaphor to its logical conclusion,
a wildfire is about to erupt, and it will only get worse. The reason
being is that the Fed keeps adding bad paper to it's portfolio, and
because the Fed is broke, it's borrowing money to cover these debts.
How long can that work? How long before our lenders in China decide the notes they are holding aren't worth the paper they're printed on?
happening what led to the Great Depression. As for being immoral, and
wrong on nearly every level, the simple truth is that without these
bailouts, the entire US economy would collapse very quickly. And it
still might. I've been predicting since 2006 - when most people were
still debating whether or not we were in, or heading into recession -
that we would in fact enter a depression before 2010. I'm not an
economist, but I'm also not stupid. If you look past the complex trees
of arguments against a looming depression, it's quite easy to see that
the economic forest itself has been clearcut, slashed, burned, and
completely mismanaged. Taking this metaphor to its logical conclusion,
a wildfire is about to erupt, and it will only get worse. The reason
being is that the Fed keeps adding bad paper to it's portfolio, and
because the Fed is broke, it's borrowing money to cover these debts.
How long can that work? How long before our lenders in China decide the notes they are holding aren't worth the paper they're printed on?
0 talk back:
Post a Comment