U. S. CHAMBER LAUNCHES CAMPAIGN TO SAVE CAPITALISM

The Freedom Post ^ | June 12, 2009 | TheCapitalist

[TheFreedomPoster]

“Supporters and critics alike agree that capitalism is at a crossroads,” said U.S. Chamber President and CEO Thomas J. Donohue.

[GeronL]

but a Bush told me it has to be destroyed to be saved.

whatever that means.

[griswold3]

http://www.gold-eagle.com/editorials_08/willie061109.html

The USFed has no Exit Strategy available to it, since raising interest rates would exacerbate a trend that began without any direct active decision on the official rate. The IRSwap represents a major obstacle to reversing the easy accommodative monetary policy of near 0% rates, but also serves as a coffin nail final blow to the US banks. They are not recovering; they remain insolvent; they face further losses; they are toast. Next comes the unraveling and Christmas Tree of explosions in the credit derivative arena. The challenge will be for the USFed and USDept Treasury and Wall Street to hide the fires and damage.

[Tucsonican]

The US Chamber of Commerce backed the original “bailout” in October. They are a HUGE lobbying group that purports to be pro business but apparently, when the chips are down, caves in to their political masters.

I had supported this organization in the past but that single move showed me that they are a political organization rather than a pro capitalism organization. They’ll get nothing more out of me.