Walmart, the largest reatailer in the US, said that the economic recovery will be lethargic at best and yet politicians continue to see things through their rose colored glasses. Where can I pick up some of these happy pills? Unemployement continues to climb and the only money being spent is by the government. Let me remind you, they are spending our money. They are spending money they collected and anticipate collecting for a very long time going forward. Pass the wine, I need to be sedated.
The FDIC proposed Banks prepay fees out 3 years to 2012. Are the banks going to pay these fees with the money they borrowed from one branch the government to pay a different branch of the government? I'm confused. What the heck is going on. I feel like I'm standing in front of a 3 card monty scam in Times Square and although I don't know how, I'm $300 poorer and still scratching my head. Hey, where'd they go? This government is scaring me.
This whole thing is very reminiscent of 1929. Let me remind you, after the market crashed in 1929, it rallied roughly 45% in the next 6 months before falling 86% from that point in the next 2 years. I understand Bernanke and his brain trust know this and have calculated for it, but still I have this feeling of uneasiness. Paulson hightailed it out of Washington first chance he could without looking back. Bush is thanking his lucky stars he made it out when he did. Do you think the Republican party actually thought Sarah Palin was a good running mate? No way!!! They foresaw what will unwind in the very near future. Sorry Obama, but we're going to need you to touch your toes. I hope I don't run out of Spaghetti-O's and Twinkies.
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