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The Average Joe’s Take on Government Bailouts – and More
By: Lorimer Wilson
www.PreciousMetalsWarrants.com and www.InsidersInsights.com
A story is making the rounds on the internet these days describing the practical interpretation the average Joe (and plain Jane, too) is putting on the way in which the U.S. government is dealing with the country’s current financial woes. I’ve done some editing and enhancing and present it below for your amusement and enlightenment and have added a segment with some insights and suggestions on how we can all potentially recoup the losses we incurred in 2008.
The Average Joe’s Take
“It is early July in a small sleepy town along the north shore of a beautiful lake…
THE REAL COST OF A FULL BAILOUT
A recent study from the Congressional Budget Office (CBO) has zero credibility. It pegged likely taxpayer losses in the Fannie Mae and Freddie Mac bailouts at $25 billion. For those with a sense of history, it is worth remembering that the S&L bailout had a $160 billion price tag. The numbers diverge so far from reality as to be laugh-out-loud funny. Funny, that is, except that the CBO estimate demonstrates a willful disconnect with the actual consequences of federal government actions.
As demonstrated below, the real cost of the bailouts will easily exceed $1.3 trillion. In fact, the real cost is likely…
5Sep2008 | Daily Reckoning | Comments Off | Continued
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