Tuesday, September 27, 2011

Privatize Profits/Socialize Losses

Dr. Paul Craig Roberts is one of the few economists who, IMHO, gets it. Articulate, concise and above all else, non partisan, he demystifies the economic malfeasance the banks, with government collusion, have foisted upon the world.

To add fuel to the fire, this excerpt will really warm the cockles of your heart.

A trillion dollars,  routinely given to the banks thanks to the Fed's largess at our expense equates to this...

"But enough of the analogies.  What does it mean to you, if you were budgeting a trillion dollars spending in your household?  One trillion dollars spending divided by 300 million Americans comes out to $3,333 per person.   So every time the government wants to toss around a trillion here and a trillion there, think of writing a check for $3,333 for each person in your household.

That, my friend, is a trillion buck-a-roos."

Any questions?
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