The redoubtable Hank Paulson, a notorious One-Trick Dog, is focused entirely on the movement of money, his only-stock-in-trade. Mr. Secretary Paulson has dealt another $800,000,000,000.00 to his clients in the Finance Industry; an industry whose total output is 0 (nothing, that is, nil, nothing, zip). Except that these days borrowing from the gov't. seems to be a lot more profitable than actually trying to make/sell something tangible. Tangible product is so 20th century I suppose.
The only drawbacks to Mr. Paulson's plan:
a. When people go into Survival Mode, they stop buying all those wonderful things (like Maxi-SUV's), and budget for necessities only; like food, shelter, and absurdly overpriced toys for the Grandchildren. We'll only have a short time to wait 'til Black Friday tells us how bad (or perhaps not-so-bad) the shopping portion of the economy has become.
b. At some point in time this Supply-Side Capital-Formation Genius-Of-The-Market economic model (the Upstairs/Downstairs Model) founders on the resulting destruction of the middle class. The wage-earners go deeper in debt, lose everything, end up, as Tennesee Ernie Ford said:
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