Are Banks Struggling, or Scamming?

First-time homebuyers with their giant government gift of money may have reason to buy. And financially stable homeowners are refinancing. But in the effort to get the economy rolling again, this doesn't carry much of a punch.

Few others can pull the trigger. Many consumers are so far in debt that the idea is unthinkable. Others cannot see how they can put money to profitable use. Buy new machinery when the equipment you have is already idle? Investing in industrial bonds is not a bad idea-- unless the company issuing the bonds suddenly suspends payment on them and slides into bankruptcy.

For many people, this is the time to hunker down. If they go to the mall, it's to look.

Nicholas Von Hoffman examines the failure (so far?) of the stimuli and bailouts to get us back to the halcyon days of yore.