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  • Economy Contracts, Spending Turns Negative [View article]
    0% chance the banks will give away their free money to consumers. 0% chance interest rates will drop significantly even at a 0% fed funds rate. They need the giant spread to pay their executives and write off their trillions of bad derivatives. 0% chance the Treasury or Fed gives a crap about the public or consumer. They only care to save the monetary system which happens to be themselves.

    So of course consumer spending drops. Don't expect any real government help. It isn't coming.
    Oct 30 23:20 pm |Rating: 0 0
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