The banks have access to a giant galaxy of other programs, most of them under the Fed, like the TALF, the Temporary Liquidity Guarantee Program, the PPI, and so on, which offer them a chance to unload toxic assets, or borrow money virtually for free from the government, or get government backing to otherwise very expensive borrowing. Goldman, for instance, was able to issue almost $30 billion in FDIC-backed debt last year under the TLGP. Repaying the TARP is nice, but it’s just a fraction of the problem.

Also take note of the fact that we could have paid off every subprime mortgage in the country for under $1.5 trillion, and instead gave eight-ten times that amount to Wall Street, mainly to pay off derivative bets on those sorts of loans.

Once you’ve been put over the barrel so many times by both parties that only seem to be intent on drilling holes in our boat, just using different methods, what the hell do you do then?

When the crazy libertarian “down with the FED” candidates like Ron Paul start looking like the only sane and rational individuals you see running around washington, what the hell do we do?

When elections start being chosen on issues like gay marriage and abortion not on the serious issues like financial accountability of government and the rule of law you know there is a problem

I suppose when the gay couples show up to get married and the city hall has been closed for 6 months due to furlough days and when your loved one is not getting the surgery they need due to massive lay offs then MAYBE people will start seeing the problems this country has from the proper angles.

Maybe I am wrong. Maybe most of the people in our country see the same problems I do. They just choose to ignore it. After all, with the amount of anger and resentment towards the financial and governmental entities that have been systematically screwing people since forever there is only so much a person can take before you flip out or your appendix bursts.

Maybe that’s the reason The Dark Knight and other movies that give you some escape from reality into a world where you see someone bopping heads of the bad men sell so well.

I don’t think disconnection from the world is a result of our society or from being raised on cable TV where only the violence in movies are real. I think we choose disconnection and escapism as a survival tactic. When things are so screwed up and no one is helping the situation, sometimes the best thing to do is walk away. Or is it?

What does a person like me do?

The US elites have been pumping and dumping other countries economies for decades, it must be somewhat uncomfortable for Americans to see it done to them.

In those countries where the people actually have a pair, violence erupts.

Ah Matt, you’re losing it.

If there’s any justice they’ll be doing it in THIS world.

You’re usually on point when it comes to financial/ecomomic issues, but you’re too easy on the Republicans. In 1980 they inherited a deficit of less than a $ trillion. Then they implemented “Supply Side” Economics and proceeded to ruin a country which for 200 years had prospered.

You seem to forget that in addition to the phony debt figure you read about, our entitlements are about $100 trillion underfunded. Medicare itself is $50 trillion in the red.

As an actuary, I have been talking to my shoes about this for decades, but no one wants to hear.

Hunter Thompson would have said: “Matt, you’re a great guy, but get angry. The snakes are winning and all we are doing is whining.

Call them out. They hate themselves and their children, and they will multiply if they can.”

If you need an actuary, let me know..paradigmactuaries.com.

Lee