I mentioned Mr. Gross from PIMCO, the world's largest bond fund, having some issues with our current recovery. He is not alone, now Paul Krugman, a Nobel Prize winning economists, and others are seeing other problems in our future. Now, I must say I do not wholly agree with Mr. Krugman's mantra about throwing massive amounts of more money at the situation, but I do agree with his view that we are in a world of hurt. The fundamentals simply do not indicate any other alternative.
http://www.nakedcapitalism.com/2010/01/guest-post-krugman-says-american-economy-will-not-recover-for-a-long-time.html
And This Folks Makes Me Sick
Geitner, probably Obama's key financial operative, was head of the New York Fed when it allegedly required AIG to hide the fact that it was paying 100 cents on the dollars (with our taxpayer money) to entities on swaps. Entities like Goldman, another entity tightly tied to an Obama operative, got much more than they ever dreamed of and the NY Fed apparently tried to push AIG to illegally hide it all from the SEC - and us. Now I put a lot of allegedlys and other qualifiers in this because I have no personal knowledge of this. But if it is true, I am truly sick. The rules apparently never have and never will apply to the A-holes that got us here.
http://www.nakedcapitalism.com/2010/01/ny-fed-told-aig-to-hide-details-of-swaps-payouts-to-banks.html
Disclosures: None.
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