Category: American economy

What a week it was in American and world financial markets. Conditions became so disastrous that at the end of the week the American government, lead by the super active pair of Wall Street’s favorite buddies, err, excuse me, I mean public servants, Hank Paulson and Ben Bernanke, announced a $700 billion emergency bailout package. This is on top of the $500 billion or so already tossed into the black hole of “creative finance”. The American talk of free market captialism proves to be only talk as socialism takes over.

Since this is a Federal government estimate of the funds that will required we can expect the amount to end up being multiples of the original $700 billion. Pretty soon we will be talking real money here. The American free market coffin is getting the cover nailed down good and tight. Get ready for more regulation and less opportunity for profits in a much more restrictive socialistic environment.

Paulson and Bernanke have been working hard sticking their fingers in the dike trying to slow down the meltdown resulting from the smart guys on Wall Street having used massive amounts of over leveraging that has nearly tanked the American financial system. The financial black swans have been circling around just out of sight for some time and are now appearing one after the other. It seems the smart guys on Wall Street and at the banks and hedge funds didn’t get their risk calculations down quite right.

What a week it was in American and world financial markets. Conditions became so disastrous that at the end of the week the American government, lead by the super active pair of Wall Street’s favorite buddies, err, excuse me, I mean public servants, Hank Paulson and Ben Bernanke, announced a $700 billion emergency bailout package. This is on top of the $500 billion or so already tossed into the black hole of “creative finance”. The American talk of free market captialism proves to be only talk as socialism takes over.

Since this is a Federal government estimate of the funds that will required we can expect the amount to end up being multiples of the original $700 billion. Pretty soon we will be talking real money here. The American free market coffin is getting the cover nailed down good and tight. Get ready for more regulation and less opportunity for profits in a much more restrictive socialistic environment.

Paulson and Bernanke have been working hard sticking their fingers in the dike trying to slow down the meltdown resulting from the smart guys on Wall Street having used massive amounts of over leveraging that has nearly tanked the American financial system. The financial black swans have been circling around just out of sight for some time and are now appearing one after the other. It seems the smart guys on Wall Street and at the banks and hedge funds didn’t get their risk calculations down quite right.