Time for
another tally:
The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.
Yes, indeed-y, the taxpayer-funded floodgates are wiiiiiiiide open...
Federal Reserve lending last week was 1,900 times the weekly average for the three years before the crisis.
I didn't see a penny of that generosity. Did you? So who, exactly,
IS the beneficiary of what now amounts to
HALF our Gross Domestic Product?
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3 comments:
The redistribution of wealth continues....
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/3521671/US-will-collapse-and-break-up-Russian-analyst-predicts.html
Yeah, I saw that story about the Russian prediction. I do think the nation's in for some political turmoil; whether it'll break up is anyone's guess.
But it's worth noting Russians have recent experience with bloated bureaucracies, socialized economics and rampant corruption...
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