September Explosion in Federal Reserve Bank Credit

Are you eager to pay 30% higher prices in order to subsidize Wall Street? During the past two months there has been much media hoopla about a supposed depression. Yet, the chief problems that the media describes are failures of poorly managed investment banks and insurance companies, not unemployment. Moreover, if there were high unemployment, which there isn't, the problem would be best handled by unemployment insurance and similar transfers to tide over the unemployed, not a trillion dollar subsidy to banks and Wall Street firms. This recent boondoggle is an example of the complete and utter failure of regulation in action. The public is unable to evalute fake claims by millionaire bankers, and the result is unveiled on Howard S. Katz's blog .

Howard observes the Federal Reserve Bank statistics. Ordinarily, Federal Reserve Bank Credits increase in the magnitude of .75% per month. In September, they increased 56%. That means that the money supply just increased better than 30%. Are you eager to pay 30% higher prices in order to subsidize Wall Street? And that's BEFORE the bailout has been approved.

Yes, we have been well advised by the mass media, haven't we?

Howard's chart follows: