A pop quiz: How much money did the US government inject into the American “financial system� from June 30, 2009, to June 30, 2010?
Drumroll…
$700 billion.
That's right…the same amount promised to the financial system in TARP, back in 2008, when they were literally on the brink of destruction. Over the last 12 months, as the S&P 500 rose as much as 30% (up about 15% now, after the summer correction), evidently banks, brokers and lenders needed another $700 billion… just trust ‘em…really.
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The Paradox of Stimulating Growth With Government Spending
Here we are at the end of another week. What have we learned?
Not much. Yesterday, the markets went nowhere.
So, we'll think a bit more about Tim Geithner and the other men who rule us. Geithner wrote an article for The New York Times, “Welcome to the Recovery.�
The gist of the article was that, though the recovery wouldn't be quick and easy, it was still real and moving forward.
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