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  • billander88 billander88 May 9, 2009 11:23 AM Flag

    Bankers’ Worry: Worst Is Yet To Come

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    • Yeah, Nice article.

      I read that evaluation from Soros also. Looks like that's exactly what's happening....life is being sucked out of the economy to salvage these massive reckless financial institutions. I read that over 50% of people do not pay taxes and in that group are included the very wealthy who they say have already moved their assets overseas...Bermuda, etc......it looks like the hardest hit will be the working people who are subsidizing the other 50% as well as these Wall Street banksters............but as you say, looks like that inverted square root picture soon to be fulfilled.

    • Thanks. Good article.

      The feds have gone solidly down the path of propping up the banks. Now those banks will spend the next ten years sucking productivity out of the economy. The result will be stagflation just like Japan. It will be Soros' "upside-down square-root".

      With the help of the feds, bigger well-connected banks will eat smaller poorly-connected banks. Maybe the whole financial industry will end up nationalized. The United States of Goldman Sachs.

      What a wonderful free-market economy we'll have then, eh?

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