Fed Pledges Top $7.4 Trillion to Ease Frozen Credit
Federal Reserve lending last week was 1,900 times the weekly average for the three years before the crisis.
I received a bit of profound wisdom today. ‘Everything changes – what we knew before, will never be again.’ Our economy will never be the same; this sets a new course for our nation.
Never a truer statement has been made.
I suggest this: our nation is paying the bill for a party that started a long time ago. We took our parent’s credit card and hit every casino, purchased a new car a year, traveled with a few escorts, procured a few weapons, started a couple fights, become Rainmakers in the club, and then we tried to hide the damage. As we wake up we realize that the credit card has hit the limit (More on Trickle-Down Econ to be posted later).
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