The financial news wires report analyses every day which reveal the ‘cracks’ in the current economic track that our government has us on – and why continuing down this road is an exercise in futility.
One recent analysis sums things up well (and shows why we need an economic acceleration driver like The Leviticus 25 Plan’s direct credit extensions for American citizens):
Financial Blogger, Matt Taibbi (TAIBBLOG – May 8, 2012):
1. Let banks inflate massive asset bubbles with the aid of cheap or even free government cash, and tons of leverage;
2. Before it all explodes, carve out gigantic sums for bonuses and compensation for the companies that inflated those bubbles;
3. After it explodes, get the various governments to bail those companies out;
4. Pay for it all by slashing services to what’s left of the middle class.
This is the model we used in America. We had a monster asset bubble based on phony mortgages, which Wall Street was allowed to inflate to spectacular dimensions with minimal reserve capital, huge amounts of leverage, and tons of fraud for good measure. When that bubble exploded, we first rescued the banks who inflated the thing in the first place…
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Meanwhile, massive debt continues to pile up in Europe. Bloomberg recently reported on the heavy bond issuance coming next week in Europe – one of 2012’s heaviest:
* Monday May 14
- Spain to sell 12- and 18-mo bills
- Italy to sell up to EU3.5b 2.5% 2015 bonds
- Italy to sell 4.25% 2020 bonds
- Italy to sell 5% 2022 bonds
- Italy to sell 5% 2025 bonds
- Germany to sell EU4b 6-mo bills
- France to sell up to EU4b 92-day bills
- France to sell up to EU1.9b 168-day bills
- France to sell up to EU1.5b 351-day bills
- Tuesday May 15
- Greece to sell bills
- U.K. to sell GBP2.75b 5% 2025 bonds
- EFSF to sell up to EU1b 2% notes due 2017
- Wednesday May 16
- France to sell 0.75% 2014 notes
- France to sell 3.5% 2015 bonds
- France to sell 3.25% 2016 bonds
- France to sell 1.75% 2017 notes
- Germany to sell additional EU5b in 10-yr notes
- Thursday May 17
- Spain to sell bonds
- U.K. to sell GBP 1.5b 5% 2014 bonds
Source: Bloomberg
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The world needs liquidity.
The Leviticus 25 Plan would deliver for America.