Global Debt Crisis, There Is Not Enough Money On Planet Earth
By: Ashvin Pandurangi
May 11, 2012
No matter how you look at it, as The Automatic Earth and others have pointed out ad infinitum, in the end the US economy rests on two pillars: Jobs and Housing. They are where both all the good and bad in economic terms begin and end. Ben Bernanke and his Fed policies are majestically failing on both counts.
That is the reality that is shaping America’s reality today. Anything else is just a sideshow. Discard all the hubris on recovery, on falling unemployment; all that is but a mirage the political/industrial/financial/media conglomerate wishes you to see and believe in, so you won’t pay attention to what truly goes on. Which is that Fed and Treasury policies were never designed to support or revive the economy you depend on for your income and your well-being in general. They were and are designed to take your wealth away from you.