Sunday, July 03, 2011

Happy 4th Of July To The Greatest Con Game In American History Perpetuated By Wall Street, Politicians And The Federal Reserve

In what is most assuredly the most pompous self-congratulatory act which had no benefit but for a very few to steal from society (circle jerk) in the history of the United States, Wall Street gets society-funded bailouts from the Federal Reserve-Treasury to cover up their systemic incompetence and criminal behavior.  They then turn around and loan that very money, society’s money, back to society (loans to fund our government budgets) for a profit.  Only in a fascist state could such a con game exist.   These are crimes against society. 

Society (our government, including states) should be getting money directly from the Federal Reserve at zero percent interest or through direct monetization – something we were a first (and still a lonely voice) to say the government should do in 2008 as this crisis unfolded.  That is exactly what the treasury instrument purchase program is that the Federal Reserve has said it will continue after quantitative easing 2.0 ends.   A program that nonsensical financial buffoons, useful idiots and nonthinking ideologues heckle.   But the program should be used to rebuild our economy, our private sector and to create jobs rather than be used for wars, special interests and cronyism as is happening today.

Happy 4th of July in this mad, mad, mad, mad world.

posted by TimingLogic at 11:45 AM