posted March 25, 2009 12:56 PM
Yes NosiS and this is just the opening round of spending money we don't have and the printing of Federal Reserve Notes to bail out every failed institution both here and abroad.AIG was used as a transfer agent to funnel more than $100,000,000,000 to both failed US institutions and foreign as well.
They're already talking about TARP II.
As Schiff says, this is going to be highly inflationary, destroy the value of the dollar, raise prices of everything in our economy...and they won't be politically able to rein in that inflation by withdrawing currency from circulation. To do so will dry up lending, cause high interest rates, close businesses, cause layoffs and all the rest of the maladies associated with fighting inflation.
The Nixon/Carter/Fed policy gave us inflation rates of more than 10%, unemployment of 10% and interest rates of 21%.
Lindaland
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posted March 24, 2009 08:40 PM
posted March 25, 2009 12:56 PM