Ignore the past. It has no bearing on today.
The Fed has our back.
Buy the dip.
The Yellen Put will always save us.
Valuations and fundamentals don’t matter. We have HFT computers.
Those who forget the past will buy at the top on margin.
What’s the worst that can happen?
I’ll get out before everyone else.
Don’t worry, be happy.
“As a dog returns to its vomit, so the fool repeats their folly.”
Proverbs 26:11
The federal government has $3 trillion in loans on its books
By Jeffry Bartash
Published: Jan 6, 2015 2:57 p.m. ET
Nd nobody appears to be in charge
Uncle Sam says you, the U.S. taxpayer, are responsible for $3 trillion-plus in federal loans.
WASHINGTON (MarketWatch) — The federal government has handed out more than $3 trillion in loans and nobody in Washington appears to be in charge.
So says Politico in a lengthy investigative article. Writer Michael Grunwald reports that Uncle Sam has expanded federal loans to more than $3.15 trillion from just $1.37 trillion in the year before Great Recession began. Read: The (Real) Bank of America.
The loans are distributed under 120 different credit programs at 30 agencies. What’s worse, “no one is responsible for managing its overall portfolio, evaluating its performance or worrying about its risks,” the article said.
By and large, the loans go to students and home buyers. They account for 89% of the loans on the federal government’s books.
Others who benefit from the government’s largesse include farmers, small businesses, manufacturers and green-energy firms.
With little oversight of the lending programs, the article suggests American taxpayers could eventually get stuck with a substantial bill. Some credit programs suffer from failure rates much higher than in the private sector, Politico said.
The explosion in federal lending largely stems from Washington’s response to the financial crisis in 2008, but there’s been little effort to rein in the growth in government-backed loans. Lobbyists fight to keep them and many lawmakers seem to believe it’s a cost-free way to win votes.
“A Washington money spigot, once opened, is almost never turned off,” Grunwald writes.
It means four years of Hillary.
Stuck….could you do an article on the type of car Hillary would be ….I’m thinking a Douchewagon.
BUCKHED
The commie bitch would be a Travant. Ugly, slow, useless, a fraud, and it will forever blow smoke up your ass. You know how to double the value of a brand new Trabant? Put $10 gas in it.
Yup, a Bush or Romney nomination will guarantee “President Hillary Clinton”.
Since the Fed, financial community, politicians, and the media can lie almost indefinitely, nothing else matters but keeping the US and world economy going regardless of lies, debt, or corruption. It’s only about propping up the economic charade while government subsidizes as many as possible to defuse civil unrest.
This is why I harp on the only thing that makes sense to me. That no lies or corruption can stop the serious effects resource depletion will have on everyone. As more people in the US and worldwide lose jobs and remain unemployed (the main reason for falling oil prices – lack of demand), the world economy will keep getting worse but governments and the media will keep lying about this while the Fed keeps creating enormous money to prop everything up.
Most will keep believing all is well because it scares them too much to believe otherwise (cognitive dissonance). So I believe resource depletion will keep dragging us down until watching sports and entertainment and even alcohol and drugs can’t compete with people’s need to feed themselves and power their daily lives. After this, economic disintegration picks up steam.
Nice call so far on Dick Russell admin.
There hasn’t been one uptick since he put out his buy them for the third and final phase alert.
It now takes significantly…….more…to get my clammy hands. They’ve ‘stick saved’ this thing so often its not worth watching. It’ll happen when it happens, once she goes most here know the likely scenarios.
Heard the other day while watching a show on Rome – the gladiators ‘era’ as a means to amuse the masses went on for centuries. Even a single century would’ve made my jaw drop – and I don’t know how long they did go on though somebody here surely does, but the show can go on and on.
STUCKY
Was it the TRAVANT that was made out of cardboard? Some East German or Russian vehicle from what I can remember.
Agreed on your view of Hitlery and the Travant.
Stuck-stop insulting the Travant.