Mack I agree that the payback of a small portion is a good thing. A bunch of banks were trying to pay back months ago and were not allowed by the Obama administration.
While that is some good news and you are right, they got this done with the politics of fear and that is never good, that panic was not by the media though, it was done intentionaly by the government..
But that is a small portion of the money the Fed has doled out, currently hundreds of banks have failed, and hundreds more are looming on the precipice of failure.
There is trillions of dollars of debt from the mortgage and real estate market alone that is sitting on the books for these banks and is part of the greatest fraud ever perpetuated on the American people and it was done, knowingly by the Congress and Senate of the US in full complicity with numerous banks and investment houses. Done after being warned by numerous people for over eight years prior to it happening and they threw gas on the fire not water.
Latest estimates I heard last night is they expect unemployment to rise to 12% within the next two years.
The never in human history debt this current administration has put us in and is proposing to increase dramatically in the next several months is what the people in this country really need to worry about. That is going to devalue the dollar so much that we have no chance of ever coming close to paying off the interest on the debt, never mind the principle. The Congressional Budget Office has been telling Congress now for six months the effect this debt is going to have and they are ignoring it. They have told them that it is going to create huge increases in interest rates, and inflation that will stifle our economy and extend the recession for the forseeable future.
That is something we dont have to panic about, you see panic is unreasonable fear, this is fact. This is something in which the American people have to send people to Washington that will reverse the course we have been on for decades and limit the control of the federal government.
If not we are in serious depression type trouble.
