Yikes.
Why does that ugly "fascism" word keep cropping up?
This just in from "George Washington's" blog:
Feisty forecaster, Bob Chapman, opines:
"Gee, didn't they tell us the Iraq War would cost 60 to 200 billion, only to find out later that when you add in future costs for veteran's disabilities and pensions, the cost could top 3 trillion? And didn't Bernanke tell us that the fallout from the subprime situation was contained? ... And didn't all the fraudster CEO's keep telling us that their walking dead zombie companies were sound and liquid right up to the time that their shareholders got vaporized? Aren't you starting to get a little tired of all the lies? Can we trust even a single word spoken by anyone from Wall Street, the Fed or our "beloved" Treasury Department?"
Liars, Dictators and Bear Markets, oh my.
Fascism, here we come.
Nouriel Roubini also said, "They pretended they were drawing a line in the sand with Lehman Brothers but now two days later they're doing another bailout."
Bailout, bailout, who's got the bailout?
Hey, and who's really going to PAY for all these bailouts, anyway?
New York Times journalist, David Stout, 'splains it to us:
"American taxpayers will come up with the money."
What?????
"Yes, you could argue that people who cannot tell soybean futures from puts, calls and options are being asked to clean up the costly mess left by Wall Street. To make the bailout palatable to the public, it is being described as far better than inaction, which administration officials and members of Congress say could imperil the retirement savings and other investments of Americans who are anything but rich."
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