What kind of economy stimulation actions this administration has done between 2006 to 2008, other than kept lowering rates to now we have a negative real interest rate? In the interim we have seen daily necessities such as grocery, has gone up 15 to 20%, not to mention the gas at the pump. Oh yeah, I forgot food and energy are not included in the CPI calc because they are "volatile", as if we dont need to feed our families and use transportation to go to work, school, energy to keep our homes comfortable... :(
Nothing can be done to save a financial industry that is leveraged to 40x with abundant recklessness. It would be far better though painful at the beginning, the government let BSC fail w/o private sector bailout and let FNM/FRE fail a year ago, for that matter, instead of waiting till the last moments when all the ***t hit the fans so to speak. |
