Total Fed Credit went down by $9.6 billion last week, which is, in comparison to their wild excesses of late, not that much, and certainly nothing to get excited about. Sort of like how my boss is unimpressed that she only got one letter last week, instead of the usual five, from disgruntled customers complaining about how I called them “morons” because they were not buying gold and silver in response to the government acting like monetary and fiscal idiots.

And if you are wondering, “Like what kind of monetary idiocy, Magnificent Manly Mogambo (MMM)?” then all I have to do is smile enigmatically and silently point to where it shows that the Fed used some of the money that they created to buy up another whopping $9.3 billion in Treasury debt, agency debt and miscellaneous other worthless debt from banks last week. Last week!

The surprising thing to me about last

The stock market seems to be rolling over. Investors read the news. It’s probably becoming clear to them that the economy is not going back to normal any time soon.

Yesterday, the Dow lost another 131 points. Another big day down and it will be in the 7,000-range. Oil sank too – down to $62. The dollar, bonds, and gold stayed about where they were.

Economists are still talking about an “exit strategy.” But in view of what is actually going on in the economy, they’ll probably want to stay on this highway a lot longer. This is the long road to ruin, of course. It may be fatal, but it is not – yet – unpopular. Broadly, what is happening is exactly what should be happening.

The stock market rally is getting old…and may have already peaked out. The consumer is running out of time, money and credit. He has no choice but to

Bankruptcies, Depressions and Mark Stanford with his Argentine beauty.

Everything is working out just like we thought it would. The stock market is performing as expected. The economy is on track. Even the politicians are doing what they thought they would.

Let’s begin with the stimulus/bailout/boondoggle/BS plan. As anticipated, it has failed. That is, the economy is getting worse, not better. It has failed the test set for it by its own creators. Back when the Obama Team was arguing for a big bailout bill, it warned that without a bailout unemployment would rise above 8% in 2009. ‘Pass this bill today,’ said Ben Bernanke, or words to that effect, ‘or there may not be a tomorrow for the US economy.’

Congress dutifully bent its back to the task of adding boondoggles to the bill and then okayed the measure. And here we are in the middle of 2009 and the unemployment rate

In this morning’s news, Brite-Strike Tactical Illumination Products, Inc. announced that it has launched a major media advertising campaign with 30-second commercials airing on some of the largest cable networks such as Bloomberg, CNBC, CNN, Fox Business News, Fox News, Tru-TV, and MSNBC and print ads appearing in the USA Today, the nation’s most widely circulated newspaper. The national television campaign will continue throughout the early fall months.

Expressing his excitement, Glenn Bushee, President of Brite-Strike Technologies, Inc, stated, “We are making a significant investment to move the Brite-Strike brand forward. Advertising on CNBC, for example, with over 95 million viewers, gives us a way to kick off our campaign in a big way. Our goal is to bring personal safety into the hands of ordinary citizens; their security is of the utmost importance.”

The Brite-Strike Tactical Blue-Dot™ line is currently being utilized by a