>From Reuters: http://tinyurl.com/bcu553
- - - But there is increasing concern that when the flow of public money subsides -- beginning next year when much of that stimulus package is spent -- the economy still won't be strong enough to stand on its own. "The stuttering attempts to repair the banking and lending mechanisms so far by the new administration suggests that by late 2010, the specter of a second dip into recession will be looming large," said Merrill Lynch economist Sheryl King. The latest evidence of the government's ever-changing plans came on Monday when insurer American International Group Inc got its third bailout, each with different terms. That did nothing to improve confidence on Wall Street, where investors dumped stocks amid fears that the financial crisis was worsening. ... Treasury Secretary Timothy Geithner and Fed Chairman Ben Bernanke have warned repeatedly of the risk of pulling away the economic supports too soon. However, Bernanke and other Fed officials have also stressed the need for a clear exit strategy to ensure that their repair efforts don't spawn inflation. ... "Major industries have become dependent on federal assistance, and they will be followed by cities and states bearing mind-boggling requests," investor Warren Buffett wrote in his annual letter to shareholders. "Weaning these entities from the public teat will be a political challenge. They won't leave willingly." - - - And again---that is precisely Obama's objective. He doesn't give a rat's ass about actually restoring the economy, he wants an ever-expanding army of hand-out hungry voters every election cycle to give him and his party authoritarian control of the nation. All these economists trying to find exit strategies and figure out how this spending boondoggle can be undone without another recession are looking for love in all the wrong places. They know it makes no sense and cannot end well. As Biden might say: "Mark my words... and gird your loins." - Bob _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
