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Wednesday, March 25, 2009

Link of the Day

... is this one from Option ARMageddon explaining why the market jumped up wildly at the unveiling of the Geithner plan. Warning: the link contains some basic math - addition and subtraction. You'll have to think when you read it. Make sure to have coffee standing by.

If you don't want to read it, here's the synopsis: the markets went up because the plan is for the taxpayers* to cover the losses in the financial institutions so the stockholders won't get wiped out. The stockholders are home free and the rest of us get crushed under mountains and mountains of debt.

* - well, not really the taxpayers since we don't actually pay taxes for the things we buy any more, we just print money. Instead of taxpayers it should be "dollar-holders".

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