Tin Cup

The Bailouts Are Doomed - All of Them

Nothing makes much economic sense any longer. We have been swindled by politicians and lobbyists. It's all smoke and mirrors, and that's why nothing is working. None of it is real, except for the huge debt tab which hasn't changed anything.

In less than a year:

o Commodities prices have quintupled and come back down.
o Gasoline went from more than $4 to less than $1.50 on a mere 3% reduction in consumption.
o Insurance companies can't manage risk anymore and need a bailout for their ineptitude.
o The whole mortgage fiasco shows that nobody in the whole chain can be trusted anymore.
o The financial statements are lies: What's "goodwill" worth when your company is losing money?
o toxic assets are another name for liabilitiies that would be worth more if they were bulldozed -- and somebody loaned money on it.

This is not a free market, no, not even close.

The Bailouts Are Doomed - All of Them

The bailout is just there to keep the party going.

Without any oversight or transparency, why should anyone borrow or lend money or invest? Just stick you money in a lockbox somewhere.