I have been away to China for some time now and just got back. Business and pleasure. Now I understand the big picture much better.
Well, well, well, OBAMA the saviour.
When this man was elected I posted a very good message along this line. I guess I now can pat myself on the back. I was right.
The IOUSA is going down and when the dust settles, whew!
The IOUSA will still be the number one fighting machine on earth, but without the financial clout. This goes back a long way. Here again I shout about such infamous people as Freidman and his Chicago boys school scholars. The rotten SOB
And of course how he influenced many presidents and other big name stars along the way, not to mention the havoc he created in many other countries.
And all the while the American populace just sat by and hung on for the ride. If one looks carefully at Argentina, you can see the perfect storm that has been raging now for many years is an exact copy. Who cares is the hue and cry?
Here is a reprint for those who want to know. Yes I know it is not me saying this. But hell, it is faster to do it this way.
Dear Joe,
Although today was another slow day, a piece of news caught my attention: The US rescue of the financial sector may reach $23.7 TRILLION. And that's when I said WHAT?!!? As in, WTF did he just say!?? This was reported by Bloomberg, CNBC, and other places.
Neil Barofsky is the special inspector general for the Treasury's Troubled Asset Relief Program (TARP) and he said today that YOU, the taxpayer, may be on the hook for as much as $23.7 trillion to bolster the economy and bail out financial companies. He said the Treasury's original $700 billion "bank-investment" program represents a small fraction of all federal support handed out and guaranteed to the government's favorite friends in the financial system, including $6.8 trillion in aid offered by the Federal Reserve.
Helicopter-Ben will not be the only person speaking in front of Congress tomorrow. Mr. Barofsky will be giving testimony on this subject in a hearing before the House Committee on Oversight and Government Reform in which he is expected to say, "TARP has evolved into a program of unprecedented scope, scale and complexity."
Meanwhile, Barofsky's office has opened 35 criminal and civil investigations into issues including suspected accounting fraud, securities fraud, insider trading, mortgage servicer misconduct, mortgage fraud, public corruption, false statements and taxes.
"Treasury's continued unwillingness to provide basic transparency despite the many recommendations of SIGTARP and Congress and the repeated demonstration that meaningful data from TARP recipients can be gathered and easily disseminated is unacceptable," said a memo prepared by members on the oversight committee.
Nothing has changed folks; the "new transparency" promised by the President is as opaque as ink.
There you have it. I feel so sorry for the little guy. Greed finds its own
path towards its own destruction.
I could write a lot more about the IOUSA, but I don't have the time. I am now busy doing something else I mentioned here often. Buying gold and silver stocks, because thanks to OBamBam an his idiotic team we can all make a fortune after the next giant bubble bursts.
Here is the best advice I can give anyone out there interested in making some big money on the backs of that misguided team of bureaucrats misfits now firmly entrenched in Washington.
BUY WHAT CHINA NEEDS
all the best to everyone
jed