Chartist Friend from Pittsburgh Cuts Through The Bullshit

Business Insider continues their shilling for Bernanke and Obama by trying to get us to believe that the $5 trillion increase in public debt that has been added under BHO's watch has resulted in a $10 trillion increase in household net worth over the same period. Conveniently BI leaves out two crucial factors in their bullish equation:

 - the Fed's balance sheet is $2 trillion larger now than it was at the start of the crisis
 - the Fed made $16 trillion worth of emergency loans to banks during the crisis and there has been no accounting of how much of that has been paid back

From the data that is publicly available all we know is that the real increase in post-crisis government debt is $23 trillion, not $5 trillion. A $10 trillion dollar return on a $23 trillion "investment" seems like a shitty deal to me.

As always the charts tell the story...