I would just like to note that, back before Goldman Sachs was stating $300 billion, and Roubini caused gasps when he published the number $1 trillion, Brick Oven had estimated the banking loss to be $3 trillion. We made this estimate based on the assumption of a national housing price slump of 30%, half of which was owned by the banks. It was not that tough of a calculation.
The government has spent $4.28 trillion so far. Sometimes I believe that there are forces controlling the national press outlets. Does this mean I’m officially nuts?
Obama does not understand what he is getting into, you can tell by his smile. My gut tells me that he represents the pendulum’s high point. Maybe things happen for a reason. Look out below.