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January 12, 2010

The Fed's Multi-$Trillion Shell Game

Posted by Dave Blount at January 12, 2010 11:41 AM

Bernie Madoff was a piker. If you want to watch major league financial misconduct, look no further than the moonbats currently steering our economy straight for the precipice of total economic collapse:

In the current hodge podge of abstract finance, it is easy to get lost in the numbers and lose sight of the forest for the trees. Which is why we provide the ultimate simplification: In calendar (not fiscal) 2009, the US grew its budget deficit by $1.47 trillion. In the same time, the Federal Reserve grew its securities holdings from $500 billion to $1.85 trillion, a $1.34 trillion increase. Keeping it simple: 91% of the budget deficit increase in 2009, under the authority of President Obama, was funded by the… United States.

We are borrowing all this money from ourselves. It's like going on a massive, ongoing spending spree with your credit card, all the while paying it off with your other credit card.

Either our country is run by drooling idiots who couldn't manage the finances for a lemonade stand, or we are witnessing the ultimate application of the Cloward-Piven strategy, by which leftists like our Community Activist in Chief have long dreamed of collapsing the American economy so that they might rebuild the Soviet Union on its ruins.

Either way, if competent, patriot Americans are not able to take the wheel from these maniacs in the very near future, this country is doomed.

Click for full size.

On a tip from Byron.