Saturday, May 2, 2009

Financial Wizards

Since last fall, our financial wizards have promised $12.8 trillion in bailout funds to primarily well connected cronies. The US national debt since the birth of this great nation now stands at a comparable $11 trillion. None of these debts will ever be paid off and it’s hard to fathom how anyone believes to the contrary.

The printing press is also being used to artificially maintain low interest rates via market interventions. Derivatives have long been focused there but now the Fed has resorted to direct action. The Fed is in the market buying our own Treasury Bonds. $300 billion is the first estimate, but you know how government estimates tend to work out.

Folks, this extreme action is akin to entering the bidding for your own house sale. An advanced central planning degree is required for this desperate maneuver.

Larry Potter

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