Financial Gloom & Doom From Mike Whitney Part 146,179

Full article here. Money graph:

The actions of the Fed, the Treasury and the FDIC are likely to cost in excess of $2 trillion. That does not include the trillions in market capitalization that are wiped out by plummeting home and stock prices. Nor does it include the incalculable suffering from rising unemployment, falling living standards, or personal hardship. Eventually, the Fed's emergency measures will result in higher taxes, soaring deficits and slower growth. As America's "consumer-based" economy flags and the recession deepens, capital will flee US Treasurys and securities and create a funding crisis. This may be hard to imagine, now that the dollar is strengthening and US Treasurys appear to be in great demand, but the handwriting is already on the wall.

As Iron Maiden said, run to the hills, runs for your lives.