it's a paper bug's dream ..., page-7

good post, SP. this guy reckons that debt has not vanished into thin air as it has simply been transferred to the taxpayer.

http://truthingold.blogspot.com/


Someone please wake me up when you can find evidence of overall debt in this country is contracting - and that would be the sum Govt + individual + corporate. What HAS happened is that Wall Street and CNBC are pimping the story that banking system debt is lower. And it is. But it's been transferred to the public sector in the form of outright bailouts and guarantees. Make no mistake, all of that mortgage paper - $1.25 trillion - being purchased by the Fed is guaranteed to YOU, the taxpayer.