Comments on: More Good Economic News That Isn’t

By: ragzamuffin

ragzamuffin — Wed, 02 Sep 2009 07:01:37 +0000

Every program espousing financial info should have a large sign crawling along the bottom reading “for entertainment only”. The only exception is Bloomberg and I notice they are plugging in the fast reading ” talking head” now and then.

By: joeinhell

joeinhell — Wed, 02 Sep 2009 06:00:32 +0000

Studied economics for a while. Actually worked as one. The Romans used to have “soothsayers” who would study the guts of a freshly killed animal. An economist is one rung down on the ladder from that for accuracy.

The day economics can put an actual price tag on corruption, blackmarket deals, theft, nepotism, political animals in the private and government sector and simple ignorance, I might try it again. Until then it is just like philosophy or religion, no one in their right minds will believe in it.

By: Father_Time

Father_Time — Tue, 01 Sep 2009 23:21:28 +0000

I think the government's annual income has been around 11 trillion dollars.

I'm not worried. Besides if all goes to hell we'll see capitalists shot in the streets and wall street gutted and burned for their sins. What joy.

Che` was right.

By: mikkel

mikkel — Tue, 01 Sep 2009 18:49:09 +0000

Now that's not entirely accurate. The Fed made $9 trillion of guarantees, it didn't spend it. Thus far they haven't really lost much of that, but the point is they refuse to say what they have guaranteed and to whom. They have shown immense favoritism in deciding who a “systemic risk” is and who is not, and have allowed hundreds of billions of trash assets on their books. They have also given what amounts to a blank check in those guarantees, which is causing the banks et. al to have reckless behavior that is approaching the 2007 peak by several measures, and that is potentially racking up hundreds of billions of more losses.

All in all I believe that in a worst case scenario the Fed would lose somewhere between a trillion and a trillion and a half, which is still mind boggling especially as it'd go to the worst actors.

By: GreenDreams

GreenDreams — Tue, 01 Sep 2009 18:36:17 +0000

More bad economic news. The Fed is missing 9 trillion dollars? Yikes. Where's the media coverage? Where's the outrage?
http://www.youtube.com/watch?v=mO3GpzWfppo

By: More Good Economic News That Isn’t « acc3ss.info

More Good Economic News That Isn’t « acc3ss.info — Tue, 01 Sep 2009 17:54:25 +0000

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