Tuesday, May 12, 2009

The Madness Continues

The madness continues in what used to be the envy of the world - the American Capitalist System. The latest bit of madness is the news that the Federal Reserve cannot account for $9 Trillion in "off-balance sheet" transactions! Incredible! I wonder if the money was siphoned into the hands of the money grubers on Wall Street? Or maybe some politicians fattened up their Swiss bank accounts?

And where are the "guardians" of the people - the media on this subject? The silence is deafening. I know where the media is - spreading more manure for Wall Street. The Wall Street Journal reports that the "scourge" of deflation is about to sweep the globe!

I thought that Wall Street had given up on that fairy tale known as deflation. Apparently not. With the Federal Reserve preparing to print trillions of dollars out of thin air to purchase Treasuries, I think the last thing we have to fear is deflation.

But that's the way Wall Street works. They try to distract you with some great story - much as a pretty magician's assistant will distract onlookers from what the magician is really doing. Wall Street wants everyone to worry about deflation while it's really full-fledged inflation roaring down the tracks. That is the way Wall Street can make the most amount of money from the "suckers" - the investing public.

No comments:

Post a Comment