Daily Truth Pills

Hosea 4:6 My people are destroyed for lack of knowledge…

No TARP Can Mend the Economy Now

Posted by truthpills on 2009/02/19

Posted: February 18 2009
By: Bob Chapman

credit barely available, watch the fabric of our nation disappear due to policy, More money for the wealthy, more debt for everyone else, long time now since the top of the market, a purge should be part of the financial solution. expect a metals breakout,the promised change has not arrived,the reality of the stock market today is grim, SEC continues to work for Wall street and play down criminality

The masters of the universe flashing their Ivy League degrees and their doctorates led us to believe that there was nothing they couldn’t handle. They told us they had the experience and academic qualifications to reflate any unfolding bust. The result over the past 20 months has left us further in the hole than when we started.

Credit is barely available to the vast majority of borrowers and at usurious rates considering what banks are paying the Fed to borrow funds. Financial, monetary and economic solutions have not worked. The policy is the Treasury and the Fed throw money and credit at the mess they’ve created. All they have done is bail out the banking, brokerage and insurance communities to the detriment of everyone else. How can we expect the people who caused the problem to solve it? This is the group that created the greatest policy blunders of all-time. They have proven they are not masters of the universe, but boneheads.

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