The answer is: NEITHER!
Simply stated: This Emperor Has NO Clothes.
ITEM 1:
Preview of the New York Times analysis to be dated 2/10/09
FIASCO
The much anticipated new bank bailout is the worst yet, led by even more incompetence and more arrogance than the previous bunch of Treasury Clowns. Too bad these colossal jokers continue driving our economic train down the path towards a terrible economic train wreck.
ITEM 2:
From Barron's 2/9/09, Randall Forsyth writes:
"the cost of insuring US Treasury debt for 5 years increased to a record 82 basis points on Friday, up 15 basis points in a day."
Remember, please remember...
Watch bonds, not the stock market. The costs of insuring US Sovereign Debt (BONDS) are ratcheting up and up relentlessly.
Trillion dollar spending plans + trillion dollars of bailout plans = no possible way to EVER payoff this debt.
ITEM 3:
Again, from Barron's issue dated 2/9/09:
"The nation must stop living in denial of the mistakes of both parties.
Spreading failure across the entire economy risks turning a recession into a depression."
The financial engineers of these economic blunders remain in firm control of the apparatus of the FED, the US Treasury, the US Congress, and the office of the President.
SUMMARY
At a national level, the electorate has replaced "Dumb" with "Dumber". They prance and dance before the world, in splendid ignorance of economic consequences resulting from their actions, all the while doing it without either boxers or briefs... naked to all except the acolytes of the pandering press and leviathan government.
CONCLUSION:
Expect the continuing economic debacle to become worse than you imagine. This Emperor ain't got no clothes.
