After $150 billion in election-year check writing, $700  billion in TARP funds (with a shocking $150 billion in pork to get it passed), $787 billion in “stimulus” funds, $2 trillion in secret Federal Reserve loans; after bailouts of General Motors, Chrysler, Freddie and Fannie; after spending more than any government in the history of the world to fix the economy, MSNBC reports that hopes for economic recovery are “starting to fizzle.”This from Barbara Marcin, manager of the Gabelli Blue Chip Value fund: [Government intervention] is supposed to jump start the real economy and start consumer spending. In previous recessions with stimulus programs, autos and housing get under way, they start to create a little confidence, banks start to lend more, consumers start to borrow more and the second part takes off. I don't think there are any signs of that.Why isn’t all the spending working? Isn’t the great John Maynard Keynes smiling...(Read Full Post)