There is an interesting narrative going on in the press. Since Wall Street is on the mend and hefty banking bonuses are once again making the rounds, every corner of the country is now somehow celebrating in this same process, at least in theory. That is simply not the case in actuality. The system has been decoupled internally. Profits are made globally with local banking subsidies. The public is left holding the bag on massive speculation and is shifted out of any prosperity. It is odd what passes for good news. The fact that Congress acknowledges that they will deal with the fiscal challenges facing our nation is applauded even though this is their job and most are already millionaires. The Fed is still deeply intertwined in the current economy.
Fed and Treasury Total Money
There is an interesting chart examining all Fed and Treasury Money out in the economy. The Fed has introduced a historic amount of measures to bailout the current market. In 2008, this mixed bag of funding was at $1.5 trillion. Today that figure is near $7 trillion:
More @ My Budget 60
Eatin' time! Happy Thanksgiving!
ReplyDeleteSame to y'all!
Delete