Thread: Bank Bailout A Boondoggle of Billions: by Bob Chapman

Bank Bailout A Boondoggle of Billions

An excerpt from Bob Chapman's weekly publication.

December 18 2010: A stimulus of pork, anger and hostility over economy brewing, disclosing the bailouts brings discomfort, Europe on life support, Europe in turmoil like in the 1960s, Ron Paul starts in on the Fed.

What the tax package proves conclusively is that the President, the House and the Senate have absolutely no intention of getting their fiscal house in order. We will address the lurid details later. There is no change in the policies of borrowing continuously in order to sustain current consumption and to keep the economy from collapsing. As far as we are concerned the hold up in the package was to load it up with pork and stimulus. Some call it bells and whistles – we call it irresponsible. The Fed and all the players are buying time and 70% of the public knows that and they are going along with it. Very few want to face the music.

The Fed, via the “President’s Working Group on Financial marketsâ€

Although I don't fully understand it all, I can see that once again Mr. Chapman has given us nuggets of truth and logic.

Last night we had some good friends of ours over for dinner. I started to tell them of the dollar crashing next year, and of hyper inflation and to start storing food. They compared me to an aquaintence of ours who stockpiled food for Y2K.

I told them I hope Im wrong - but Im still going to prepare. I wish more people would wake up!