Corporate profits as a percent of GDP at record levels while unemployment is historically high and record number of Americans on transfer payments. Paying interest on excess reserves to banks for our own bailout funds
from My Budget 360
The market is perched on the edge of a chair looking out for what the Federal Reserve and European Central Bank have to say. The almighty Oz is the only game in town. With the Fed, the expectation is of some sort of additional quantitative easing to prime the economy once again whereas the market is looking for some big sort of action by the ECB to keep the Euro together. One thing is certain however and that is we are now in a bailout bubble. The markets are now managed proxy systems of the too big to fail banks. The system has been very effective in siphoning off wealth from the middle class of many countries and creating massive wealth discrepancies that have not been witnessed since the Great Depression. Many in the public are woefully uninformed since rarely is this analysis leaked out in the media. Yet as we go down this road, it is becoming more obvious that to keep this system going, more and more bailouts are required.