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(The Year 2012 In Review)
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|User Info||PFG Founder Arrested: Now How About The NFA and CFTC?; entered at 2012-07-13 16:10:46|
We literally are and have been in scandal of the week mode here since the middle of the 2000s, and anyone who expects business people to invest in long-run capital projects or hire employees as long as this trend continues is nuts.
The bottom line of Karl's latest post is THE bottom line of the whole economy. Ann Barnhardt is there and so are many others. Yes, media outlets like CNBC and others aren't but a lot of investors and business people sure seem to be. People are draining thier money out of the financial system or at a minimum sitting on the sidelines with their money in Treasuries.
The people have had enough of fraud. Until the fraud ends and the prosecution begins there will be no recovery.
P.S. I, and I am sure a lot of others, are wondering just what is in a lot of those off-shore accounts held by supposedly healthy companies. Just what derivitives are they on the hook for? Remember, Enron had all the bad stuff off balance sheet...