You really have to laugh. Plainly, the trans-Atlantic banking system, desperate for capital no longer forthcoming in this, the collapse phase of Adam Smith's Leveraged Ponzi Scheme, currently is reduced to extorting entire nations (with Italy now squarely in the cross hairs), and so-called leaders in the United States pretend peanuts they might scrape up gouging taxpayers and spitting on the Constitution will somehow fill the void.
So, tell me: why wouldn't Congress shove Glass-Steagall down the President's throat, threatening he either get behind it, or face impeachment? There's growing momentum in this cause, as a second Glass-Steagall bill was just introduced in the House. What better time to force the issue of necessary bankruptcy reorganization than this moment finding the greatest portion of Treasury's debt devoted to propping up a bunch of hapless fee junkies, whose utter lack of due diligence is not any taxpayers' rightful liability.
Seeing this, of course, the President, showing his true colors, dutifully pumped the so-called "Infrastructure Bank" during his press conference today, which, being a page out of Mussolini's Fascist Italy, is nothing more than a means of furthering the reach of those already hopelessly insolvent fee junkies who stand to effectively gain further government subsidy (in loan guarantees) on top of new fee revenue streams coming from the so-called "infrastructure" this bank would finance. Forget about any investment capable of elevating the physical economy to a degree making debt a blessing. If no recurring fee will be generated through the use of the "infrastructure" built, there simply will be no money invested. So, forget about all the great things the President claims will be done. This is just sales talk with no substance in truth of what likely would come of the so-called "infrastructure bank," as proposed.
Never mind, too the fact that, not even a full blown national bank modeled on Alexander Hamilton's conceptions financing a state-of-the-art transformation of the U.S. economy at rates of 2% or less could halt the implosion of fictitious assets polluting the trans-Atlantic banking system. The proposed "infrastructure bank" in the grand scheme, then, is nothing more than a fanciful statement put forward by Team Fraud yet again claiming that, the mechanisms by which the self-appointed "best and brightest" have facilitated the greatest mis-allocation of capital in world history, although currently seizing unabated, remain viable. Greece, Ireland, Portugal, Italy, Spain, the U.K. and middle class America all know what's true: before any major infrastructure investment can ensue bankruptcy reorganization looms.
Well, let's just see how long this time around we can play stocks are the greatest thing since manned space flight: weightlessly levitated (no leadership), orbiting above a planet's dying interest (volume) in a capsule whose "heat shield" is glowing red under pressure resisting the inevitable crash back down to earth...
You have to wonder if days like today are meant to coerce put option writers to protect their interest and pony up, that wildly overpriced equity can be force-fed to the relatively penniless blind in these, the dying days of denial of the financial system's insolvency.
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