One thing you can always count on from Washington is irony, and today they did not disappoint. To date, the US Government under Bush and Obama have spent well over a trillion of your tax dollars and mine to shore up the economy and, specifically, to “inject liquidity” into the credit market. We have had TARP I and TARP II, the Stimulus Bill, the federal spending bill, earmarks, pork, bailouts and anything else they could think of to throw money at. The Chinese have bought T-bills until it hurt and now we are printing enough money to double the money supply in this country just so the Fed can buy more T-bills. On top of that we now have trillion dollar budget deficits and governmental power-grabs that would make the Medicis blush and for what? Well, among other social and political goals, they are ostensibly doing this so the banks will loan money to you.
Problem is that the bank... [Read Full Article]