Have you been reading the comments by Rick Santelli of CNBC? He says the same thing but includes a strong analysis of the situation. I think he should be chosen to be the next Fed Chairman. His comments many months ago (Feb. 2009 http://www.cnbc.com/id/15840232?video=1039849853 ) also inspired the start of the Tea Party.
Google "Rick Santelli" to get a flavor of what he is up to. My take is that the banks will not lend any more money this time than they did the last bailout. The problem is not liquidity but lack of demand. Interest rates are almost at the "free money" stage yet there are no takers. I could borrow at one or two percent and put it into the stock market where stocks are jumping several percentage points each day. Individuals and business people are not about to borrow money when there is fear for their jobs and no demand for their products. Jim Cramer says that other countries are doing extremely well. E.g. Brazil, parts of Africa, China, Korea, etc. We are the only ones gasping for air. These countries did not waste time on health bills or regulation. Instead either directly or indirectly the top government officials brought in their best business people and asked how they could turn around their economies. And it worked. Here instead, people like Reid and Pelosi tried to wipe out business with their heavy handed rules and union check off plans among other strategies. ----- Original Message ----- From: "Publius Maximus" <[email protected]> To: "ProFox Email List" <[email protected]> Sent: Thursday, November 04, 2010 9:46 AM Subject: [OT] For the record... > The move by the Fed today to basically create another $600 bil. out of > thin air over the next 8 months is a gamble that will backfire. > > The inflation beast will soon be unleashed, and then look out. > > This is a bad move, and anyone who knows anything about economics > knows this will seriously devalue the dollar -- amounting to a 30-60% > tax on everyone's income. > > Congress should wrestle control of the money supply from this > extra-constitutional institution of the international bankers. We are > fast approaching a time when the pain of doing so will be equal to the > pain of not doing so -- except if we don't do it, we will lose our > ability to control our destiny completely and for good. > > - Publius > > -- > > "It ought never to be forgotten, that a firm union of this country, > under an efficient government, will probably be an increasing object > of jealousy to more than one nation of Europe; and that enterprises to > subvert it will sometimes originate in the intrigues of foreign > powers, and will seldom fail to be patronized and abetted by some of > them. Its preservation, therefore ought in no case that can be > avoided, to be committed to the guardianship of any but those whose > situation will uniformly beget an immediate interest in the faithful > and vigilant performance of the trust." [Federalist Papers #59] > [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/4945988d1c054564bc19acaf43bdf...@dual ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
