"Too Big To Fail ": Not True
When a politician says ," It's too big to fail", what he means is ," My part in the scheme of central planning has turned up another losing result that if allowed to fail will cost me and my fellow politicians our jobs. ". Like the communists, socialists and aristocracies of ancient history the U.S. has become a costly central planning nightmare.
" It's too big to fail" also means we are too lazy or too dumb to change. " Too big too fail" also means that money is the ultimate goal. And so today the Federal Reserve announced an additional $800 billion bailout and government guarentees . This is targeted to backing credit cards, student loans and toxic mortgage purchases. And how will the government pay for all this? The printing press will be smoking.
It's not that easy. The outcome will be a falling dollar and at some point hyperinflation will come around. The foreign buyers of our debt are already looking elsewhere.
" It's too big to fail" also means we are too lazy or too dumb to change. " Too big too fail" also means that money is the ultimate goal. And so today the Federal Reserve announced an additional $800 billion bailout and government guarentees . This is targeted to backing credit cards, student loans and toxic mortgage purchases. And how will the government pay for all this? The printing press will be smoking.
It's not that easy. The outcome will be a falling dollar and at some point hyperinflation will come around. The foreign buyers of our debt are already looking elsewhere.
Labels: bribes to politicians, central planning, communism, federal reserve, hyperinflation, loss of jobs, mortgage backed securities, socialism
posted by Barry Leonardini at 8:41 AM
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