Radio Free Wall Street 8/3/10

Russ Winter and Lee Adler discuss the QE 2 schizo trade, the worthless China development projects, government pink slips, inevitable military industrial cuts, the costs of extend and pretend in commercial real estate, the unwillingness of people to borrow, and the inability of banks to lend, the Fed’s seeming inability to foresee the unintended consequences of its actions, and the shrinkage of the Fed’s balance sheet that threatens to grow out of control.

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