On Friday, September 26th, 2008, I post a blog stating that the bailout could reach $25 Trillion. The last projected numbers place the commitment at roughly $24 Trillion, or roughly $80,000 for every man, woman, and child in the U.S. See: http://www.msnbc.msn.com/id/32010841/ns/business-us_business
If the FASB (Financial Accounting Standards Board) decides to force the issue of toxic assets being valued at market value, this $24 Trillion will rise further and it won’t be a pretty sight. See: http://www.bloomberg.com/apps/news?pid=20601039&sid=a5BsXz90CMso
Perception in the financial arena can make or break an economic recovery. It has been expedient to report what people want to hear rather than the ugly facts. Perpetuating a counterfeit reality will only work until Our Heavenly Father exposes the truth. What will happen on that day? It is hard to tell. I’m sure those in power have contingency plans if the populace were to go ballistic about the hidden truth. What most people don’t realize it that the truth has been reported but is difficult to assimilate with all of the perceptions being reported as well. Too much data hides the truth and truth surrounded by half-truths is difficult to recognize.
The citizens of the U.S. have been promised transparency but it would appear that the promise is either being broken or those in charge do not understand how serious the problem is. The following video provides an unfortunate chronology of Ben Bernanke:
