I paid for a Baal out and all I got was this lousy T shirt

Today I thought of all the prophets of baal dancing around the alter waiting for fire to come down while being mocked by the prophet… ”maybe your god is in the bathroom?!?”

Last friday Swanson quipped its not good to loan out more money than you have. But thats what deliberately happens when you have a central Bank and a fractional Reserve banking system. They continue to get a free ride.

This is just one of the largest displays of faith that has ever been on display! To see and hear all the expectant faces turning torwards the same governments that have caused this mess is a wonder.

From Gary North today , some things cause inflation and some do not….

Why the fed backed the bailout

The FED needed to government to bail out the banks directly. The government will borrow the money. This is not inflationary. It adds no new money to the economy. Money in investors' bank accounts moves to the Treasury, which replaces the money moved from the Treasury to the banks…

A FED bailout is inflationary. A Treasury bailout is not. The FED wanted the Treasury to bail out the banks. This way, no one blames the FED for mass inflation.…From member side of North’s

Dave Ramsey as part of his fix for our $$$ mess thought that the mark to market rules should be suspended. If being truthful is seen as part of the problem maybe we have to look deeper….

Mark to market

Banks for years were allowed to keep mortgages on their books at face value, even when the value had fallen due to rising mortgage interest rates. This was a subsidy to banks. It let them appear to be more solvent than they were.

All assets should be marked to market. But what if there is no organized market? This creates enormous confusion. This is the situation today…. From member side of North’s

A reason why things have are worse...

Smart money takes a hit…

…The losses are just getting started. These funds are leveraged. They borrowed money to buy shares, on the assumption that shares were headed higher. They weren't. They were headed down.

Now the funds must sell shares to get cash to get out of their leveraged positions. This will force stock prices lower, which will force other hedge funds to sell….From members side