Sent to you by James ODonnell GM via Google Reader: Wall Street's 10 Greatest Lies of 2009 via The Coming Economic Depression by [email protected] (Economic Analyst) on 12/28/09 (snippets) 1) The economy has improved.
Earlier this month, Bernanke declared, “Having faced the most serious financial crisis and the worst recession since the Great Depression, our economy has made important progress during the past year. Although the economic stress faced by many families and businesses remains intense, with job openings scarce and credit still hard to come by, the financial system and the economy have moved back from the brink of collapse." 2) If you give banks capital, they will lend it out. On Jan. 13, 2009 Bernanke concluded that "More capital injections and guarantees may become necessary to ensure stability and the normalization of credit markets.” He said that "Our economic system is critically dependent on the free flow of credit." He was referring to the big banks. Not the little people. 3) Taxpayers are being repaid. On December 17, the Treasury Department announced: ”As a result of our efforts under EESA (the Emergency Economic Stabilization Act that spawned TARP), confidence in our financial system has improved, credit is flowing, and the economy is growing. The government is exiting from its emergency financial policies and taxpayers are being repaid.” LINK HERE Things you can do from here: - Subscribe to The Coming Economic Depression using Google Reader - Get started using Google Reader to easily keep up with all your favorite sites -- Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more.
