interesting times ….
Written by Rob on March 27, 2008 – 2:10 pm -That famous curse seems to apply nowadays …
Found a great blog post from FoxBusiness on Ron Paul and how his message relates to our current economic crisis. His common sense ideas about sound money seem to be the only cure for what ails us, but no one (with enough votes, at least) is willing to do anything about it.
http://emac.blogs.foxbusiness
And another one from the Wall Street Journal on how dramatic the Fed’s actions were, and how they signaled a real paradigm shift. I found it surprising that these lenders have borrowed almost $100 billion from the fed in the three days they’ve made the funds available! As comparison, our entire Pell grant aid program for the entire YEAR last year was only 12 billion. That’s almost the cost of the Iraq war for a full year (see below)! Unless I’m missing something, it seems the risks keep shifting from these lenders to the Fed and, by proxy, to us, the taxpayers.
http://online.wsj.com/article
And after all of that, I think the scariest thing I read today is the 50 TRILLION in social security obligations coming down the pike. Our entire U.S. economy, is only 14 trillion.
http://www.cnn.com/2008/US/03
Is it just me, or does it seem like we’re hemorrhaging money, and our current policy is to keep giving the patient blood transfusions, but allowing the massive bleeding to just continue?
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