Sunshine on my shoulder

Fanny Mae and Freddy Mac collectively, have lost 20 Billion Dollars this year since they bailouts. That is 20 Billion Tax Dollars down the drain, and are now set to get more.

GMAC got 6 Billion last year from us, and are now back and slated to receive another 7.5 Billion of our money. General Motors has become a permanganate ward of the state.

CIT received 2,5 Billion from us, but they were allowed to go bankrupt two weeks ago.

Goldman Sach's, JP Morgan, and Morgan Stanley are paying out 30 Billion in bonus's. All received government money, and all have been given sweetheart deals from the government in taking over failing companies. The government removes the debt, and sells the assets to them for pennies on the dollar.

California is bankrupt. New York is bankrupt.

Investors are pulling money out of stock mutual funds, an ominous sign for the recent market rally, says financial newsletter publisher Mark Hulbert

http://moneynews.newsmax.com/streettalk/stock_mutual_fund_flows/2009/11/10/284136.html


Oil Futures Touching $100 a Barrel

http://moneynews.newsmax.com/streettalk/oil_futures_rising/2009/11/10/284130.html

Home prices fell in most U.S. cities in third quarter

http://www.reuters.com/article/ousivMolt/idUSTRE5A92XB20091110

However its all happy news on the TV. Recession is over, for the 11th month is a row.

The amount of jobs created by the stimulus seem to all be fiction. More companies are announcing layoffs. The banks are happily creating their bubble of magic money that all vanished last year. Consumer spending is down, yet they tell us productivity is up, while unemployment is still rising.

Magic money, money created on the books, but is not really a tangible asset. Same with magic jobs.