Thursday, January 12, 2012
Where some of those Bernanke bucks will go first
In a recent post, I indicated that Bernanke's bailout bucks are being used for purchasing worthless mortgage-based derivatives probably owned by the wealthy, and from there to trickle down on the rest of us in the form of higher prices for basics. Probably not coincidentally, Honda yesterday announced a new version of their NSX "supercar." Maybe we can get jobs scrubbing bugs off their cars and scrubbing them off the road when they miss a turn at 150 while texting and sipping champagne. It's their world - we just live in it, as they see fit.
Posted by nonastronaut at 9:40 AM