Welcome to the Recession - Already in Progress

Sometimes we just can't keep up with these smart fellas from the big city…

Let's try again.

The U.S. government borrows money from taxpayers…gives it to Wall Street so they can lend it back to the taxpayers at a profit. Wall Street borrows 'our money' from the Fed at, say, 1%…then they lend it back to us at, say, 6% or 7%. That way, Wall Street makes money and we can still borrow what we need.

Nice system huh?

Bill Bonner knows how the system works.