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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (521587)	11/12/2012 8:10:03 AM
From: skinowski	4 Recommendations Respond to of 793955

i have been truly amazed at how the fed has been able to almost literally 'paper over' the monumental and unsustainable debt by money printing and the stock market cheers.... I think we have modern technology to thank for that - computers are very good at keeping all kinds of numbers and data organized - as well as our very advanced banking system. They made it possible to create an appearance of normalcy and order where, in reality, everything may be a freaking madness. What is sane about running up debt in the hundreds of thousands per each man, woman and child? Including millions of people who will not earn such amounts in the course of their entire lifetimes? Nothing is sane about it; it's crazy. BUT - when you look at the books, everything looks pretty, every bank's liabilities are offset by assets (like, they owe the Fed money, but they hold T-bonds), interest payments are coming in as scheduled, etc., etc. Nothing to worry about. The entire system is immediately transparent to Bernanke both in aggregate and in detail, creating an illusion that he may actually know wtf he is doing. We're gonna go down looking good......