Money supply into thin air unprecedented, 40 million in US on food stamps

*****


The Arthur Laffer chart goes to April 2009 so it's
perhaps even higher now. The 'money supply' isn't
going where it needs to but rather to
bail outs and other non-productive dead ends.

• Much of what banks get is being passed or loaned again to
  
• the government or federal reserve which pays them
• higher interest than they could get loaning
  
• it to private businesses or consumers.
  

The federal reserve is a private corporation and has
no publicly available audits so there's no way for Americans
to know what happens there. (Interest in changing this
has a long way to go). It can do whatever it wants,
loan trillions to foreign governments, etc.

• The article by Arthur Laffer says taxes will of course go way up. What are termed 'Bush tax cuts' will expire and many who aren't already
  
• on public assistance (ie assistance from other residents)
  
• will end up there.
  

As it is 40 million US residents are on food
stamps and 2011 estimates are for 43.3 million.

• (Reuters, "Food stamp tally nears 40 million, sets record,"
• 5/7/10 by C. Abbott)

Reference, Wall St. Journal, 6/10,
"Get ready for inflation and higher interest rates," by Arthur
Laffer. via Mark Levin show.

• Note, I make no statement about how one qualifies for food stamps.