Geithner and crew are conjuring up potions and spells to impress us. We're not impressed nor are we buying their prestidigitatious bulls**t. But they will carry on - until they are stopped by stone cold sober reality or a civilian uprising.They might have admitted their failure and promised to do better next time. Instead, they decided to rescue the debt-laded economy…yes, you guessed it…with more debt!
The project was so loony from the get-go, it made us laugh. But some of the biggest names in economics – Krugman, Stiglitz, et al – are still pushing for more debt-financed “stimulus.”
The trouble with it is obvious, theoretically. Practically, it is even more obvious. In order to get money to give to the private sector, the feds first have to take it from the private sector. Ha ha…
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