Wackonomics

[DirkFTW]

Where is the tax on windfall profits?

[alexamenos]

Originally Posted by DirkFTW

Where is the tax on windfall profits?

I imagine that if there is a tax on windfall profits, the fed will simply print a few extra gillion and it give it to GS to pay the tax....some former GS / lobbyist type will probably get a nice commission on the deal.

if this doesn't burn you up....

the firm predicted that President Barack Obama's government could issue $3.25tn of debt before September, almost four times last year's sum. Goldman, a prime broker of US government bonds, is expected to make hundreds of millions of dollars in profits from selling and dealing in the bonds.

There's nothing more than a revolving door between Goldman Sachs, the Federal Reserve and the US Treasury Department.....they're really just three branches of Corporatism, Inc....

So....Corporatism Inc makes a massive amount of money in the process of creating a big bubble in the housing industry. When that bubble pops, Corporatism Inc responds by giving itself tons of freshly printed FRNs and tons of new power vis the Federal Reserve Division. On and on and on...where CI's solution to every problem is to take actions that result in CI getting more money and power.

The one thing of minor interest here (for me) is whether Obama and any of the other cretins on Capitol Hill will feign some populist sensibilities in this. I suspect they've hit a point where the pretense is pointless.