Fed Sez Economy in the SHITTER into 2009…
SONOFABUSH! Is anyone out there surprised that we can expect the economic disaster to continue? This from the new york times:
Fed Concludes Economic Woes Likely to Spill Into 2009
WASHINGTON — Federal policy makers have reached a consensus that the turmoil plaguing the housing and financial markets is likely to spill deep into 2009, becoming one of the most significant domestic problems to confront the next president when he steps into the Oval Office in January.
In a speech on Tuesday, Ben S. Bernanke, the chairman of the Federal Reserve, gave his strongest hint to date of an emerging consensus that problems will persist when he outlined a series of steps the Fed is considering taking in the coming months. One such step would extend into next year low-interest lending programs to Wall Street’s largest investment banks.
The programs, one of which was set to expire in September, can exist only if the Fed issues a finding that there are “unusual and exigent circumstances” that justify them.
Mr. Bernanke also recommended that Congress grant the Fed broader authority to monitor and supervise the financial markets to assure greater stability in the future. But with time running out on this session, lawmakers are unlikely to adopt such legislation before next year.
WTF!? Take a guess who will be PAYING THE COST OF THE corpoRATe WELFARE PROGRAMS THE FED IS HANDING OUT? That’s right! YOU WILL!
The two parties of the apocalypse will scream bloody murder that single payer national health care is TOO EXPENSIVE, but when the time comes there is always pork barrel money ALREADY IN THE BUDGET FOR corpoRATe BAIL OUT PROGRAMS!
The syphilitic co-joined twins of the apocalypse, mcbama, will run around the country making speeches proclaiming they “feel the pain” of those of YOU who have lost or will lose YOUR HOMES, but will offer YOU NO RELIEF! Instead they will bail out the corpoRATeers whose filthy scheming and thieving CAUSED THIS MESS IN THE FIRST PLACE!
Support and vote for the only candidate for president who will cut corpoRATe welfare OUT OF OUR FEDERAL BUDGET!
The Telepathic Crickets™ on the ClapSotronics editorial board and I wanna see YOU do better!
The scientifically impossible I do right away
The spiritually miraculous takes a bit longer