April 30, 2009 8:06 AM
UBS Financial Services director of floor operations, Art Cashion suggests a “sharp move by the end of the week”, but which direction? …the dribble about swine flu at the beginning can be ignored.
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U.S. is borrowing its future away
Senior economists from all sides agree that the U.S. capitalist system is well nigh broken. Arnaud de Borchgrave in the Washington Times says that not every one agrees as to the next rung up or down that may be taken.
He says that according to Bloomberg manna from the government gods now totals $8.5 trillion.
Here’s some of the hits: Fannie and Freddie – $300 billion, AIG and Bear Stearns – $300 billion, Citigroup – $300 billion, TARP – $700 billion, Fed asset-backed-debt-purchase programs – $800 billion, Fed commercial paper programs – $2.3 trillion, other Fed lending and government commitments – $2.2 trillion.
After all that, maybe then, Monday Morning says the “inflated bubble in Treasuries bursts.” Meanwhile, education, infrastructure, employment are almost dead in the water.
The only salvation, says Borchgrave is in 300,000,000 Americans getting up out of their easy chairs in front of Spiderman and see that innovation and entrepreneurship is allowed to live and breathe again on a long run basis.
Short-term interests being the killers.