Last week, Federal Reserve bank had a 1+ trillion initiative to buy toxic assets, and it most likely will debases US currency in exchange for a short-term fix which will only keep interest rates low for awhile.

By the time its new steps are done, the Fed’s balance sheet will reach $4.5 trillion, or about a third of GDP, up from less than $1 trillion a year ago. Fed is indeed take a bold action by providing easy credit again! That is 4.5 trillion dollar without any backing, from thin air, no wonder people said ‘fiat money’ for a reason.

US treasury has 11 trillion dollar worth of bonds, and according to CNN/Money and Bloombery News, the total bailouts is 12.9 trillion as of Feburary of 2009.

If you add all these up, we are talking somewhere close to 38.4 trillion dollars and some of the money has not been spent yet.

GDP of US is approximately 14 trillion dollar, the total debts and bailouts is almost two and half times of GDP in US. Obama is talking about 3.5 trillion dollar budget for next year with almost a trillion dollar worth of government deficits.

Just like you use your right hand to buy stuffs from left hand with fanny money; Federal reserve bank buys Treasury bills by using a few key strokes on their computer. Fed does not need to print the paper money anymore and the whole world is helping to pay it too, because US dollar is the reserve currency....

Is their any wisdom left in the FED, Obama administration, US Congress, and the captains of our financial institutions? They all come from the same school, went thru the same education system? seems like a bunch of oxymoron? Who do they serve? Do we need to hire a Chinese MBA's from Beijing University or Tsinghua University to figure out a sensible course of action?

Give a drunker more alcohol to rink, give a sick patient morphine shoots to make the sick patient feel better is not the right answer. Fed is blowing another bigger bubble to cover this bubble? these people are so stupid, this whole thing will collapse? Should we expect different result? Repeat the same behavior that bring us to this financial crisis?

Are these Ponzi games played by the Fed, Obama administration, US Congress? Now, we will have the worst possible situation - an inflationary depression? President Obama is another lawyer, he has little idea about financial system? Where is his leadership? The current treasury secertary cheated on his income taxes? used to work for a major Investment bank, he is helping his friends in Wall Street? Fed Chairman also worked in Wall street before. Berni Modaff was the chairperson of NASDAQ, played a Ponzi game for 20 + years alone?

What a sad joke?