The number of bailouts is becoming so large that new ones are hardly worth mentioning, But, when the lead story in The Wall Street Journal covers an fresh angle, it is hard to ignore.
According to WSJ.com, "according to research firm Foresight Analytics LCC, $530 billion of commercial mortgages will be coming due for refinancing in the next three years — with about $160 billion maturing in the next year."
There is only one thing to say about that. If almost every industry needs $100 billion or more and another $600 billion will go to create three million jobs, the rescue of the US economy is going to hit $2 trillion or $3 trillion.
The federal government can allow part of the economy to collapse completely pulling other sectors down with it, or save everyone. Both paths get expensive.
Douglas A. McIntyre