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The U.S. government and the central bank, the Federal Reserve, have spent, lent or committed $12.8 trillion to battling the current downturn, the longest recession since the 1930s, according to Bloomberg News. The total annual output of goods and services, called the gross domestic product (GDP) is only a bit higher: $14.2 trillion last year. The nation recently pledged another $1 trillion for the Public-Private Investment Program, which permits Wall Streeters, who caused the current world morass with reckless gambling, to clean up even more. Investors can amass profits by buying the toxic assets of banks; more than 90 percent of the money is put up by the government, but any profits will heavily fall to the private interests that have put up almost nothing. This programs works out to $42,105 for every man, woman and child in the U.S. and is 14 times the $900 billion of currency in circulation, according to Bloomberg. The bottom line is this: once the nation defeats the deflation, or recession, then inflation is likely to hit because of all this money creation. We have several ugly years ahead of us.

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Comments

Anon92107 April 4, 2009 @ 12:47 p.m.

Actually Don, we have already experienced more than “several ugly years” due to key Republican leadership cultural values of treason, greed, corruption and hate.

Most importantly, we must never forget that a much higher price is still being paid for republican betrayals of America in the Middle East costing hellacious losses of lives and hideous lifetime injuries to America’s Finest Military Heroes and Patriots.

Thus “$12.8 trillion” and counting is just one of the prices we are now paying for eight years of republican special interest greed.

Beyond that there are the never-ending Republican Party corruption/betrayals of American labor and the Wealth of America by GOP special interests that have exported American jobs, expertise and manufacturing to Communist China and far too many other countries for well over eight years.

And the list just keeps getting longer with increasing economic and social chaos as direct consequences of republican party leadership culture of hate that is out of control.

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Don Bauder April 4, 2009 @ 2:42 p.m.

Response to post #1: I could have said -- maybe should have said -- that more than $10 trillion of the $12.8 trillion was shoveled out under the Republicans. The sum was above $10 trillion when Obama took office. Best, Don Bauder

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SurfPuppy619 April 4, 2009 @ 4:43 p.m.

I'm scared to death about what is going to happen to the value of the dollar in the next 24 months.

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Don Bauder April 4, 2009 @ 7:34 p.m.

Response to post #3: That is a worry. However, there has been big spending and fast money creation in the euro countries and the UK, too. The dollar could pull through. However, there are so many factors in currency movements that it is hard to predict. Best, Don Bauder

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Anon92107 April 5, 2009 @ 11:02 a.m.

Don, the American people are most certainly proving once again to be the most resilient people in history.

And we shall most certainly overcome the current attacks against We The People by the GOP leadership, Wall Street and their special interest forces of greed, corruption and hate attacking America today, just as we have many wars, failed political parties, corrupt economic establishments, social and religious attacks against America throughout our history.

Thank God we still have American Military Heroes and Patriots who continue to risk everything for America proving that we have at least one segment of our population that remains dedicated to protecting and preserving our strongest cultural values of Honor, Integrity, Morals and Ethics in spite of betrayals by our political and military leaders in Washington during the Iraq War.

“$12.8 trillion” and counting is most certainly an incredible price to continue to pay for the consequences of treason, greed, corruption and hate, especially when "there are so many factors in currency movements that it is hard to predict."

So We had better pray for the success of President Obama to save us from ourselves, just like Washington, Lincoln and Roosevelt had to do before him under similar conditions of political, economic and social betrayal against We The People.

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Don Bauder April 5, 2009 @ 3:19 p.m.

Response to post #5: Trouble is, Wall Street with assistance from government has been robbing us blind for several decades. I don't know what military heroes and patriots can do to break the pattern. I thought Obama would, but he appears to be in Wall Street's pockets as much as his predecessors were. And since Wall Street has driven the world to the brink, and populism is sweeping the U.S. and the world, it would be easy for Obama's minions to get tough with obstreperous Wall Streeters. They realize they are considered scum. It won't take tough negotiations to get them to knuckle under -- or, at least become slightly less insufferably arrogant. Best, Don Bauder

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Anon92107 April 6, 2009 @ 11:14 a.m.

Response to post #6: I hear you Don, and agree. Obama is most certainly not beholden to Wall Street at all since he really was a We The People candidate, so he damn well better not forget that.

I was outraged at Obama's appointment of Berkeley's Steven Chu because Chu has been a military-industrial complex scientist selling out to the highest bidder, such as BP regardless of the fact that BP is dedicated to making profits regardless of global warming consequences.

I was thinking of starting a Non-Partisan Party, that's my registration now, but my wife says it sounds a little like Anarchists' Unite.

In any event, We MUST throw every republican out of every federal, state and local office to end the GOP era of Treason Against America once and for all.

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Don Bauder April 6, 2009 @ 11:46 a.m.

Response to post #7: Schapiro, Geithner, Summers are all beholden to the Wall Street establishment and were bad choices. Have you seen the information on the millions Summers raked in from the hedge fund DE Shaw and from speeches to banks, including some that got bailout funds? Best, Don Bauder

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Anon92107 April 6, 2009 @ 12:13 p.m.

Response to post #8:

I give up, it really is time for an

Anarchists Unite! Party

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Don Bauder April 7, 2009 @ 7:52 a.m.

Response to post #9: We're not anarchists at the Reader. Best, Don Bauder

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Anon92107 April 7, 2009 @ 12:39 p.m.

Response to post #10:

OK, I agree since Anarchy has a bad reputation even though the definitions allow for quite a bit of latitude, like voting out both the republican and democratic parties and starting all over again with a new Declaration of Independence v.21C.

Since you have now condemned both the Bush and Obama administrations, what do you recommend we do?

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Don Bauder April 7, 2009 @ 8:06 p.m.

Response to post #11: I have condemned many initiatives and appointments of the Obama administration. But he is intelligent; has grasp of the facts in domestic, foreign and economic matters; is greatly improving America's image abroad. There are plenty of pluses. He is just too snug with Wall Street crooks. Best, Don Bauder

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Anon92107 April 8, 2009 @ 4:46 a.m.

Response to post #12: Thanks for the ray of sunshine Don, I was beginning to wonder if we had any hope to look forward to at all.

So, focusing on "Wall Street crooks" we need to "motivate" Wall Street to restore American Capitalism, and provide them with a constant reminder of how upset we are at their outrageous attacks against American Capitalist Democracy and their "Let Them Eat Cake" mentality.

How about erecting a mock guillotine on Wall Street to replace the Merrill Lynch Bull?

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Don Bauder April 8, 2009 @ 6:35 a.m.

Response to post #13: The presentation by Goldman Sachs's CEO yesterday (Tues. April 6) was conciliatory on the topic of Wall Street pay and some other subjects. But his explanation of the billions of government money that went to AIG and then to Goldman should not have appeased anybody. And I suspect the offer to modify Wall Street's outrageous pay will last a year or two, then the crooks will try to ease back into the old obscene pay standards. Best, Don Bauder

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