Hussman Funds - Weekly Market Comment: Penny Wise and Euro Foolish - October 24, 2011: "[...] Add in just over $7 billion in research through the National Science Foundation, and about $120 per citizen a year is spent by the government on essential medical and non-military scientific research through these agencies. These figures pale in comparison to the amounts that are increasingly demanded in order to make bondholders whole on their voluntary, bad investments. "
Must read. Our national priorities are almost incalculably screwed up. Thanks to the money the corporations and the rich in general are pouring into Congress to protect their own assets. And of course thanks to the Fed, who grovels before Wall Street just because the reality distortion field of being in New York or Washington seems to demand it.
"And that's what we've come to - government of the banks, by the banks, and for the banks (because banks are people too) ."