We are living through a mild Depression (not a Recession). On the surface many find some comfort in the look that days aren't filled with endless lines of unemployed at homeless shelters all over the country. In actuality, while we may not see that on a massive scale, it's obvious to even the casual observer that that is an every day occurrence, if only on a smaller scale.
The important question is what will happen after this phase is over? Because the government has 'taken action', we expect to have a "recovery" but just what will that be like?
It appears more and more clear that -- EXACTLY LIKE 'MODERN MEDICINE' WITH DOZENS OF 'SIDE EFFECTS', this time the 'CURE' may actually be more harmful than the original disease.
As Fox TV Analyst Dick Morris says:
Had the Fed not almost tripled the money supply . . .
Had the government not almost doubled the deficit with new spending programs . . .
Had the Treasury not bought more than $1 trillion in questionable mortgage-backed securities (those that they are currently hiding from their book-keeping by calling them Accounts Receivables because they 'sold' the bad paper to ghost business like Mainline)...
And were the President not committed to major tax increases next year . . .
"Perhaps, a V-shaped bounce-back would be in the offing. But we are like the patient who has become addicted to his pain medication and now faces the entirely new task of adjusting to the rigors of cold turkey."