Point: Why has the Fed stopped reporting M3????
Maybe too much cash “sloshing” around in the system that contributed to the crisis we are facing now?
I live in California; 77 years old; have gone thru many “downturns” (and upticks) in our economy and have never seen the “numbers” like now…..
We are a “consumer” society firstly, exporters second. The consumer is now faced with almost an insurmountable litany of problems from the rocketing price of gas (oil) to their primary support system, ie., home equity, being swiftly eroded.
We “own” a debt that we know that we can never repay……to “ourselves.” Still, it is un-repayable….
The Fed is printing money 24/7 and has been since the late ’80′ crash….
We will eventually face the inevitable rock and hard place of plunging dollar world wide (which is occurring as we write) and the inevitability of raising interest rates to protect same.
We are now “bailing out” FINANCIAL institutions which goes against all common sense.
Our “banks” are no longer “local” so they no longer have any personal responsibilities towards their local communities. Thank heavens for credit unions and other smaller local thrifts…..
We are a nation adrift of history; ignorant of history; and refuse to understand what “globalization” means, except when defined by the MSM.
We have an administration (no less responsibility lays on the “opposition”) that is irresponsible in the least and criminal in the conduct of our foreign policies.
We have a selfish, narcissistic public that refuses to understand that we live in a global world; our “needs” or “lifestyles” are not meant to rule the world!
It will be interesting to see how the public and the our government/corporate power elites handle this latest mess.
As an atheist, God help us all!
