According to Robert Chapman, renowned editor of the International Forecaster, the recent surge of the Dow from 9,686 only a month ago to a run up to 10,674 just recently; as insiders learned of the Fed’s plan to inject $5 trillion into the economy over the next two years is only an example of the Federal Reserve and the Treasury Department feeding inside information to their friends on Wall Street.
The existence of two sets of books has allowed American and European corporations to avoid writing off losses and declaring bankruptcy. At the same time American firms borrowed $289 billion in the first quarter taking their total domestic debt to $7.2 trillion, the highest in history. Yes, corporate America has record amounts of cash, because they borrowed it. That is up $1.1 trillion in three years. This is just the debt of the non-financials that represent the better performing part of the economy.
Wall Street, banking and government know there has to be action by the Fed and or the legislature to re-liquefy the economy or it collapses. The concept of funding banks and corporations that are too big to fail has so far failed. These elitist entities should have been and now should be allowed to fail. This has nothing to do with saving America and everything to do with keeping