Thursday, April 26, 2012

Double Dip Depression and U.K. Recession

According to what I have been reading about the economy, the U.K. has gone into recession again.
The feared "double dip". In America, we have supposedly been out of depression recession for quite sometime now however, I just don't buy it. Mostly because I can't afford to.
IF we ever got out of the depression recession, personally, I have seen no evidence of it. I find it almost laughable that Bernanke says the Fed will act if needed. The actions of the Fed and their quantitative pleasing easing, has been woefully inadequate, Bernanke, a Great Depression scholar, has proven that he has no vision, and if he studied the Great Depression, did he do it online?
My experience tells me that the Fed only acts to save banks. I guess that's supposed to trickle down on people like me and it has, in the form of innocuous fee's, check kiting, holding of funds for whatever subjective time the banks dictate and banks not cashing checks drawn from the same bank unless you are a customer. I guess I'm not the only one held hostage by the banks. Bernanke is too, and Geithner, Paulson, the list is endless. If the UK is in depression recession again then we probably won't be far behind, since they are our biggest client ally. What really is laughable is the notion of the "free market"=bailout for banks. Everyone else can lose their job, get foreclosed on, be robbed of social security they paid for and it's your own fault you live in poverty you lazy moron. Too bad you didn't get the "right" degree, now your almost $100,000 in debt, thanks to sky high tuition costs and student loans from predatory banks. If you still have money in Skank Of America or Wells Forgo, do yourself a favor and go to the local community bank and get an account there. Stop supporting the "too big to fail" banks because they are in the business of making sure you do.

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