In the current hodge podge of abstract finance, it is easy to get lost in the numbers and lose sight of the forest for the trees. Which is why we provide the ultimate simplification: In calendar (not fiscal) 2009, the US grew its budget deficit by $1.47 trillion. In the same time, the Federal Reserve grew its securities holdings from $500 billion to $1.85 trillion, a $1.34 trillion increase. Keeping it simple: 91% of the budget deficit increase in 2009, under the authority of President Obama, was funded by the... United States.
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Bay Area Sees Boom in Bankruptcies
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Well color me lavendar who else is going to fund this dog and pony show.
ReplyDeleteI think most of us have know for quite some time
how all these markets were being kept afloat and today we hear that ben the bubbleman made his little enterprise ( is that even close to the right word) a cool 40 something Billion in profit.
How can you create something out of thin air / basically give it free gratius to the treasury
and then make money on the nothing you gave?
Abstract financing allright complete with fuzzy math; lots of smoke and mirrors.
They simply stole it from the taxpayers. Its air but now they have billions more of real live air.
ReplyDeleteBen Bernanke may just be a puppet but a public hanging would still be worth a viewing. Orville bring on the popcorn!
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