Well, it is another day in NixonLand. Nixon is plotting out the assault on Tom Turkey scheduled for Thursday morning. Drowning the beast in hot oil is the preferred method this year. But first, Nixon will inject him with various sauces and dust him with various herbs and spices before the hot oil is employed. Nixon is salivating at the thought.
The Federal Reserve fired off another $800 billion in taxpayer funds to help support the financial industry. $600 billion will be used to buy mortgage secured debt instruments and $200 billion will be used in the secured asset consumer loan field. Nixon has one question: When will the use of taxpayer funds end?
First it was investment houses, then bank, now the homebuilders, networks, and every tom, dick, and harry is washing up in Washington hands extended to slop at the public trough. I have one question for our leaders: When does the Government itself ask for a bailout to fund all of these guarantees, capital injections, loans, and gifts? And by bailout, I mean massive cuts in services and jacking up tax rates across the board to fund this financial adventure. Nixon says January 2009 will kick it off. Watch and see.