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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 398.26+0.5%Jan 2 4:00 PM EST
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To: TobagoJack who wrote (95101)10/2/2012 5:55:01 AM
From: carranza26 Recommendations  Read Replies (1) of 218956
 
A mind blowing study from Bard College: taking everything into consideration, as of March 2012, the Fed spent USD 29 trillion in bailouts, QEs, etc. with more than 80% of the moolah going to the top 14 financial institutions.

Note that this doesn't include the latest QEinfinity.

Yes, 29 trillion, with a 't'. An absolutely enormous amount. More than twice GDP. On a crisis in large part caused by but completely unanticipated by the Fed. Heck, posters at SI did better in predicting what was about to happen years before Bernanke woke up from his torpor. And the marginalized truth- tellers and visionaries like Ron Paul and Brooksly Born saw it coming even earlier but were of course ignored.

Idiots like Krugman want to spend more when it is obvious that the enormous expenditure may well have had minimal results. More important, restructuring and/or default like Iceland and Argentina have resulted in higher growth and sharper but less long lasting pain.

levyinstitute.org

I am seeing reports that the Obama team was reading Rogoff and Steinhart in 2008. Amazing if true for they had the info before them which predicted what we have now but instead did.....cash for clunkers.

Amazing how stupid people can be. The study and its ramifications underscores to me the fact that incompetents are in charge and that fraud and stupidity are rampant. Gold and other hard assets are the only means of self-protection. Anything made of paper is very risky given the ineptitude and criminality of banksters, central bankers and politicians.
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