THE MASSIVE "RESTORATION" OF THE ASSET BUBBLE ON WALL STREET IS BEING TOUTED AS THE "CURE" FOR THE ECONOMY...OR AT LEAST PART OF IT...
THIS SUPPOSEDLY "STABILIZES" THE "FINANCIAL SYSTEM".... BUT DOES IT...?
OR ARE WE SIMPLY GOING BACK TO LAST SUMMER WHEN THE CREDIT SYSTEM COLLAPSE...AND GAS WENT TO $4 PER GALLON...?
THE NOTION THAT BAILING OUT WALL STREET BROKERS AND THE MEGA RICH WAS "NECESSARY" TO RESTORE THE ECONOMY WILL SURELY BE TESTED IN THE COMING MONTHS...
THE UNDERLYING PROBLEMS THAT THE AMERICAN CONSUMERS FACE ARE CONSIDERABLY WORSE...
UNEMPLOYMENT AT 9%++...!! CREDIT EVAPORATED...!! AND HOUSE PRICES STILL PLUNGING...! EVEN AS GAS STARTS UP TO $4....AGAIN...?
CLEARLY THE CORPORATE SECTOR WILL HAVE TO DEFINE PROFITS DOWN...
THIS AND THE HYPER-LIQUIDITY FROM THE FED...COULD ALLOW A NEW MULTIPLE EXPANSION...AND ALLOW THE DOW TO LOOK NOMINALLY HIGH...
BUT OF COURSE THE DOLLAR PLUNGE WHICH HAS BEGUN TO MIRROR LAST SUMMER AS WELL...WILL ASSURE THAT THE A REPEAT PERFORMANCE OF LAST YEARS IS INEVITABLE...
IN TRUTH...WE ARE "WALKING IN CIRCLES" WITH THE ECONOMY...NOT BEING LEAD TO THE PROMISED LAND...BY OUR NEW MOSES IN THE WHITE HOUSE...
WHAT COULD CHANGE THAT...? REAL CHANGE...!
NATIONAL SINGLE PAYER HEALTH CARE COMBINED WITH A REAL INDUSTRIAL POLICY COULD BE A MAJOR STEP TOWARD SUSTAINABLITY...
AND FORGET THE "SHOVEL READY" JOBS OF LAST SPRING...
