Friday, April 03, 2009


Yves Smith lays it on the line:
Third, the very biggest lie is that this is merely "rearranging" the counters within the moneyed classes. This is massive dumping of losses from the investing class onto taxpayers, many of whom have little in the way of retirement savings. The costs the average taxpayer is absorbing is well in excess of what his bank related investments.

The dishonesty of this crowd is just breathtaking. The Bushies were blatantly high handed, while Team Obama prefers the Big Lie and assumes we are all too dumb to see through it.
The Obama years are shaping up to be more horrifying than those of Bush, less arrogance, but more lies. The big squeeze now being applied to the American public was set up during the last eight years, but Obama will preside over its effects and consequences and he, as far as can be told so far, is fully on board.


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