A debt spiral is in full view, irreversible with policymakers unable or unwilling and opposed to making the changes required to CREATE PRIVATE SECTOR INCOME GROWTH and control SPENDING, and which must be done to avert the final CALAMITY.
Helicopter Ben has just hit the PANIC button AGAIN(in the week ending Oct 16th they dropped 70.69 Billion of , illustrating the next leg up in reserves as Fed Presidents Bullard and Dudley have told us it will do (up to 3 trillion dollars by early next year.) Banks are hemorrhaging $300 billion per quarter in losses and covering them up with ACCOUNTING gimmicks, with the express help of the FDIC, the Treasury and regulators at the Federal Reserve. This graphic from David Rosenberg ofwww.gluskinsheff.comillustrates how M2, 3 and all lending to the private sector is in freefall:
And this is only the beginning since the BIG banks can no longer make money from banking because the mounting losses are daunting. They may not tell you and me about them, but they are fully aware that at some point, they WILL BE RESOLVED, and they need all those reserves they
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