Never Waste a Good Crisis

Ah, never wast a crisis.

The fed announces it will do a 1/2 trillion asset buy.

Let me translate. Since the market is depressed, the fed will go to one of it's bank accounts and add a bunch of zeros to it on the right hand side, enough to create 500 billion dollars out of nothing. Then it will take that 500 billion, and buy up a bunch of assets that are undervalued due to the current crisis. Then, when attention is diverted, the Fed will sell those 500 billion worth of assets to their cronies for pennies on the dollar.

Same crap they did in 2008. Remember only about 3% of "TARP" funds actually went to help Mortgage holders. It is just more and more of the American economy sucked up like a vacuum and parceled out to the ruling class.

Yet we should rejoice because this will continue to prop up the market...apparently the market doesn't think so.