More Joke News from our friends at Bloomberg

 

Obama Bid to End Too-Big-to Fail Undercut as Banks Grow

By David J. Lynch - Apr 16, 2012 12:00 AM ET

Two years after President Barack Obama vowed to eliminate the danger of financial institutions becoming “too big to fail,” the nation’s largest banks are bigger than they were before the credit crisis.

HA HA HA  - SO WHAT'S THE JOKE HERE?

The joke is that over the last 40 years economy has grown by expanding the Total Credit Market by 50 TRILLION DOLLARS.

This has been accomplished precisely by making banks TOO BIG TO FAIL.  If credit contracts, IE if the size of the banks CONTRACTS, the economy SHRINKS.

If the ECONOMY SHRINKS while trying to service 50 TRILLION DOLLARS OF DEBT, the ECONOMY COLLAPSES.

THAT SIMPLE.  AS FAR AS ALL POLITICIANS ARE CONCERNED THE BANKS WILL CONTINUE TO GROW INDEFINITELY, OTHERWISE the ECONOMY COLLAPSES.  AND THEY"RE RIGHT.

CREDIT/DEBT/BANK SIZE MUST KEEP EXPANDING AT THIS POINT.  ONLY CREDIT/DEBT IS ALREADY SO GREAT AND OF SUCH POOR QUALITY IT CAN NO LONGER BE SERVICED.

GEE- WHAT"S AN ECONOMY TO DO?

Got GOLD?