The New Definition of Recovery!!!!
February 21, 2010
– Comments (3)
Government running around a $2 Trillion dollar deficit (about twice tax receipts) to keep life support going and maintain the illusion we are not in a depression
Record decrease in tax receipts
The Fed facililitating trillions in loans from an involvent government to insolvent banks so banks can lend back to the insolvent government at MUCH HIGHER RATES so bankers can generate enough cash to give themselves hundreds of billions in bonuses
Record loan defaults and continuing to rise
Record real estate vacancies and continuing to rise
Hundreds of thousands losing jobs each week and relatively few hiring
Record long term unemployed and continuing to rise
Record numbers in the digital food line receiving food stamps each month
Record pension shortfalls
Record decline in real estate values
Could you imagine loaning 100 homeless alcoholics $100,000 grand each and bragging liquor sales were up in the neighborhood this year? You gotta luv Benny B's definition of a recovery.
Think how much defense revenues would go up if we just started a few more wars!!!!!
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