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Sunday, December 27, 2009

Emphasis

The emphasis on stabilizing the banks has, unsurprisingly, stabilized the banks.

The emphasis on re-capitalizing the banks has, unsurprisingly, resulted in zero interest money going from the Fed into the front doors of the banks and then out the back doors of the banks into the bond market and the stock market, where it boils away, doing nothing for the real economy.

The other 99% of the country continues to watch the jobs dry up and the dollar stumble towards the edge of the cliff.

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