CLEARLY THE NOTION OF GIVING ANOTHER TRILLION TO WALL STREET BANKS VIA SWEET HEART DEALS WITH HEDGE FUNDS AND BOND DEALERS IS NOT APPEALING TO A LOT OF PEOPLE
BUT OBAMA REALIZES THAT NOTHING CAN BE DONE IF THE BANKING SYSTEM COLLAPSES...NO HEALTH CARE, NO ENERGY REFORM...NO INDUSTRIAL POLICY... BANKING IS THE SINE QUA NON FOR WHATEVER COMES NEXT.
THE ONLY QUESTION IS WILL THIS PLAN WORK...OR IS OBAMA TRUSTING THE SAME PEOPLE WHO GOT US INTO THIS MESS...?
WILL THE BANKS REALLY "LEND" ONCE THE TOXINS ARE REMOVED? ...OR IS ALL THAT JUST AN EXCUSE...BECAUSE THE AMERICAN CONSUMER CAN NEVER RECOVER OUTSIDE OF THE NOW DEAD BUBBLE ECONOMY...A/K/A "ZOMBIE" ECONOMY.
TOO MUCH PRODUCTIVE CAPACITY IS ALREADY OFF SHORE FOR AMERICANS EVER TO "SUPPORT THEMSELVES" WITH TRADE AND PRODUCTION OF GOODS DOMESTICALLY...
AND THIS NOTION THAT AMERICANS ARE GOING TO BE THE "BRAINS OF THE WORLD"... HMMM...HAVE YOU SEEN THE TEST SCORES FOR AMERICAN KIDS...? NOT PROMISING...COMPARED TO SAY, CHINA OR INDIA.
IN OTHER WORDS, IS IT ALL A LOST CAUSE ANYWAY? ...SO WHAT DIFFERENCE DOES IT MAKE...?
IN ANY EVENT... WE SHOULD KNOW A LOT IN THE NEXT FEW MONTHS...
EVENTS ARE MOVING VERY FAST NOW... AND AS I SAID IN A PRIOR POST...IF I COULD BE PUT INTO THE FUTURE A FEW MONTHS....SAY AROUND LABOR DAY...
I'D JUST GO LOOK AT THE PRICE ON THE GAS PUMP...AND I'D KNOW EXACTLY HOW THINGS TURNED OUT WITHOUT EVEN SEEING A COPY OF THE NEW YORK TIMES IN THE INTERIM MONTHS...!!
OIL AND GOLD (TO WIT: THE DOLLAR) WILL TELL THIS STORY GOING FORWARD...THE REST IS JUST WHITE NOISE.
