Spieler Eins

Why This Bailout Can't Work - And What Will

This is nothing more than a right-wing rant, i.e. cutting taxes and spending are the only solutions. Using taxpayer funds to short-circuit a foreclosure driven death spiral in real estate and credit markets makes a lot of sense to me. Two other points: the concept of net-worth does not apply to the Fed. Their balance sheet can be expanded ad infinutum, literally, and it makes sense to do so as the value of assets goes up in smoke. Also, gold goes down while the dollar gets smoked? Once again, makes no sense. Don't quit your day job, Julian.