Smoke and Mirrors

The same tactics used to destroy our investment banking system in recent months are now being used by the Obama administration in the form of deceptive sediment released to media outlets as to change the average Americans viewpoint of the current state of the economy from negative to positive. The government realizes that consumer confidence trumps liquidity infusion, and it is Americans spending their hard earned money on goods and services on a consistent basis that makes a healthy economy. Recent evidence of this deceptive news strategy is Citibank and Wells Fargo reporting that they have miraculously become profitable, and attributed this new success to loans made within their mortgage departments. It does not take a rocket scientist to figure out that when Citi got forty billion, and Wells got fifteen billion in Tarp funds that their balance sheets would show a positive reflection in the form of available capitol for loans to be made. And the most recent news, is an huge increase in housing sales, of coarse sales have surged, because of investors jumping into the market realizing that home prices and interest rates are the lowest in decades. Now the results everyone has been waiting for in the form of stress tests in the banking system, to determine solvency, are suddenly going to be suppressed. The longer the truth is withheld in these matters, the deeper the recession.