The Governments Hand…In Everything
Posted By thestatedtruth.com on June 27, 2011
If not for the massive government gift giving (stimulus), we would be in a depression.
Report: Government to pass private sector as primary lender in U.S. According to Investor’s Business Daily, citing Federal Reserve data, the U.S. government, perhaps “as early as this quarter” is likely to “displace the private sector as the biggest source of outstanding home mortgages and consumer credit.” According to the report: “At the end of Q1, government-financed home mortgages and consumer credit outstanding totaled $6.32 trillion, up from $4.40 trillion at the end of 2006. Private-sector financed loans fell to $6.58 trillion from $8.48 trillion over the same span.” Back  in 2006 the private sector lent consumers $2 for every $1 dollar lent by the government, the report added.
Dr Joe Duarte
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