Daily Digest

Daily Digest - April 4

Sunday, April 4, 2010, 9:52 AM
  • The Fed Admits To Breaking The Law
  • Recent Growth In Economy Is But A Mirage
  • Fed Finally Reveals Some Toxic Bear Stearns Related Garbage On Its Balance Sheet
  • Mauldin: Is This A Recovery?
  • Looting Main Street
  • Americans Becoming International Pariahs As U.S. Imposes Capital Controls

Economy

The Fed Admits To Breaking The Law (mhoop)

The Fed effectively appropriated taxpayer funds without authorization of Congress. At the time these facilities were put in place neither TARP or any other Congressional authorization existed for them to do so, and to date no bill has been put through Congress authorizing the expenditure of taxpayer funds, either through putting them at risk or via outright expense, for this purpose.

Recent Growth In Economy Is But A Mirage (hucklejohn)

As you can see manipulation of the public masses and the market are part of official public policy, as well as of that of Wall Street. It has been for many years. We started to write on the subject in 1965. Today it is becoming public knowledge. This manipulation has become the nexus or mainstay of economic and political policy.

Fed Finally Reveals Some Toxic Bear Stearns Related Garbage On Its Balance Sheet (hucklejohn)

With this disclosure, everyone should now be able to clearly see what many of us knew all along: The Fed was not seeking to protect weak banks as it alleged, but rather to protect itself from having to disclose billions of dollars of pure garbage on its balance sheet.

Mauldin: Is This A Recovery? (JRB)

First, we are in a nascent recovery from the depths of the Great Recession, but the question is "what kind of recovery?" Many suggest that we will see a typical recovery, like we have seen with every recession since World War II. As regular readers know, I don’t think we’ve gone through a typical, garden-variety recession, and to expect a typical recovery is more faith-based than factual. We had a deleveraging recession and we are still deleveraging. The process, as shown in studies I have written about, takes years to conclude.

Looting Main Street (joemanc)

If you want to know what life in the Third World is like, just ask Lisa Pack, an administrative assistant who works in the roads and transportation department in Jefferson County, Alabama. Pack got rudely introduced to life in post-crisis America last August, when word came down that she and 1,000 of her fellow public employees would have to take a little unpaid vacation for a while. The county, it turned out, was more than $5 billion in debt — meaning that courthouses, jails and sheriff's precincts had to be closed so that Wall Street banks could be paid.

Americans Becoming International Pariahs As U.S. Imposes Capital Controls (pinecarr)

Congratulations bankrupt America - you are now one step closer to a thoroughly non-free market.

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1 Comment

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
Re: Daily Digest - April 4

Just a couple stories above found while looking through some links last night.

  • Happy Easter!!

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