GIVING IT ALL AWAY, GLOBAL STYLE
Stock futures surged about 2 percent Thursday as the world's finance leaders discussed the global economy. Investors were enthusiastic about word from the London meeting of financial regulatory changes and increased funding for the International Monetary FundYou'll recall that a couple weeks ago when Timmy rolled out his "Big Privately Owned Banks Will Win, And Win Big" plan, the markets "surged." And spewed and drooled and whooped from the rooftops.
Because, you know, those gosh darn businesses and big-ticket investors like free money. They're just crazy that way!
Now, it looks like the Obama-Geithner-Bernanke-Summers Plan -- Taxpayer Money for Wall St., Now, Tomorrow, and Always . . . or at least til there's nothing left to give away -- is going international! I haven't figured out the details yet, but it seems like the governments of the world's largest economies will give tax payer money (or debased fiat currency) to the IMF so it can "loan" that money to choice institutions, projects, what have you.
Some will say that those IMF loans will go to "developing nations" or "infrastructure projects" to "get people to work." Yeah, right. If that were true, you really think investors would be "enthusiastic," sending stock futures "surging"?
Anyone who's been watching for the last six months (let alone the last six years) knows exactly what's going on here. Don't be fooled again.