The government is running out of ways to help the economy as the US faces major issues regarding credit and employment ahead, banking analyst Meredith Whitney told CNBC.
"I think they're out of bullets," Whitney said in an interview during which she reinforced remarks she made last month indicating she is strongly pessimistic about the prospects for recovery.
"I have 100 percent conviction that the consumer is not getting any better and there's not more liquidity," Whitney said. ... "For a 2010 prediction, which is so disturbing on so many levels to have so many Americans be kicked out of the financial system and the consequences both political and economic of that, it's a real issue. You can't get around it. This has never happened before in this country."
http://www.cnbc.com/...
So what do we get we get ? another stimulus package that
- increases debt and ponzi schemes
- looks to re-inflate bubbles
- fuels the delusion of 'extend and pretend'
Good Bye! The Reappointment Of Bernanke Is Too Much To Bear
http://www.huffingtonpost.com/...
What I am seeing and hearing on the news -- the reappointment of Bernanke -- is too hard for me to bear. I cannot believe that we, in the 21st century, can accept living in such a society. I am not blaming Bernanke (he doesn't even know he doesn't understand how things work or that the tools he uses are not empirical); it is the Senators appointing him who are totally irresponsible -- as if we promoted every doctor who committed malpractice.
Yup that's how bad it is folks...America is one giant clusterfuck of a ponzi scheme.
The Quiet Coup
http://bit.ly/...
NET NET: If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform.
US Banking Oligarchs to Obama: keep the ruse going for the continuation of America's dysfunctional economic system dependent on increasing debt, faux GDP growth, ponzi schemes and bubbles with politicians kicking the can down the road.