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So, with all these bailouts, the fiscal crisis must be licked, no?

Gary North (subscribers only), an economist and historian, pointed out that the bailouts have not worked. This is not just his opinion, but the opinion of the American public 

Nearly two-thirds of Americans do not believe the $787 billion stimulus package the president passed last year has helped create jobs, according to a new Pew Research Center poll.

and of American  business economists:

In latest quarterly survey by the National Association for Business Economics, the index that measures employment showed job growth for the first time in two years — but a majority of respondents felt the fiscal stimulus had no impact.

Gordon T. Long opines on how the EU was bullied into a $1 trillion banking bonanza:

Most people take more than two days to buy a car, but the frightened EU officials were pressured into reacting before the Asian markets opened Sunday evening. This is eerily the same scenario we saw on the eve of the US $700B TARP ratification, the Bear Stearns takeover, Fannie /Freddie Conservatorship, AIG Bailout etc..  A coincidence – Yeh right!  How was this pressure applied?  Who has such power? Who won and who lost?

 It’s all part of a grand plan to shift risk to the innocent, says Gordon.

24hgold.com is a useful source of this and similar articles, and for keeping track of the prices of precious metals in various currencies.

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