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Friday, August 7, 2009

Goldman Sachs Strikes Again

Remember just a few weeks ago when President Obama was outraged at the huge bonuses being paid at Goldman Sachs and other Wall Street banks? Well, he has now gone silent on that subject.

The BBC reported yesterday that the reason for this new found silence is that Larry Summers convinced Obama that he was hurting the morale of Wall Street bankers by complaining about their outrageous bonuses.

Hurting the morale of Wall Street bankers? What about the morale of 15 million Americans without jobs who don't have salaries, let alone bonuses??

This administration, which started out with such high hopes, is rapidly becoming a bunch of spend thrift thugs. Best estimates are that a tiny 12 cents of out every Stimulus Bill dollar actually went to anything remotely able to stimulate the economy. The other 88 cents went to pet projects of Nancy Pelosi and her gang.

As we pointed out, and explained, in The Great Recession Conspiracy, the U.S. is on a direct path to bankruptcy. Since the U.S. cannot declare bankruptcy, it will print new money to pay the bills, and that is called inflation, pure and simple!

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