The devil and Mr. Jones

Because something is happening here
But you don't know what it is
Do you, Mister Jones?

-Bob Dylan-

I have to admit I don't know either and I suspect the market analysts of the same confusion. My morning perusal of the news includes a glance at Bloomberg.com and the leading headlines today were:

• Citigroup has $5.1 Billion loss, cuts 9000 more jobs.
• Stocks in US rally on Citigroup.

It might make a skeptic think that perhaps these stories overlook something or that nobody really knows what the hell is going on but need to say something in order to get a paycheck. Or maybe it's the same old prophylactic optimism by which they've been trying to ward off disaster with a smile, a shuffle and a little shuck and jive.

Perhaps the same thing applies to the political gigglefest. Are voters really going to change their minds at the possibility that Obama gave Clinton the finger - are they even going to believe it? But they have to say, to print, to televise something and childish nonsense is far easier to sell and more distracting than any serious discussion; particularly a serious discussion about a truly unworthy Republican.

Cogitamus asks us the trenchant but rhetorical question of how the media would treat either Democrat if they had had checkered careers like McCain. Frankly I think the entire Media-as-propagandists truth is laid bare here.

You've been with the professors
And they've all liked your looks
With great lawyers you have
Discussed lepers and crooks

Something is indeed going on, but all you're going to hear is that everything is all right: we don't need to change anything.