Thursday, September 18, 2008

George is on the job.

This morning's brief "rebound" has fizzled, Morgan Stanly is in trouble, talking about selling a bigger stake to China or merging with Wachovia. US commercial paper has suffered the the biggest percentage-point decline in at least 26 years. The August leading indicators fell more than expected and world confidence in the US Dollar and US treasury securities is evaporating; for good reason. There hasn't been such a great need for economic leadership since the Great Depression and the likelihood of our idiocracy electing anyone on the basis of intelligence and education seems "iffy" at best.

George W. Bush ( doesn't he look good in a flight suit?) reassures us that he's regularly conferring with the same economic advisers who have been preaching the deregulation dogma that produced this mess. He's even cancelled more days off - after all he owns the world record.

Sarah Palin, who believes in witches and believes that all this happened because rich people pay too much taxes, assures us that we need to keep regulation from stifling growth: what growth?

Is this only the beginning; the first ripples of the storm surge to come? Perhaps we will be bailed out by the rest of the world; unwilling to have an American albatross around their necks. Perhaps not. Michael Bloomberg (what does he know about money?) thinks the next wave may be worse. I see no sign that he's wrong.

4 comments:

ECOPHOTOS said...

These days, the sunlight almost seems total. A few men, trees, stand between heaven and earth ...

Wondering how the next Apocalypse would come. Not on the four hooves of four horses, but on the sovereign debt and failed monuments of a prideful people, and a trade deficit through earth leading straight to China.

Now our assets are cheap as dirt, made cheaper still by devalued currency, while our homes and banks, and businesses have become easy pickings for foreign crows. And all this happened in the blink of an eye ...

I hear messages the dead have stopped sending. These days of almost fatal sunlight.

Anonymous said...

http://www.democrats.org/page/content/mccain_vs_florida

Good Captain Sir. Did you develop this website? Seems like a good idea to me.

MrSleep

Capt. Fogg said...

Henry Braun.

Who said old men can't write poetry?

That McCain vs. Florida site is great - thanks for the tip.

ECOPHOTOS said...

Henry Braun. Who said old men can't write poetry?

1965-66, war and disillusionment not unlike this time .... Braun was not an old man in those days. Those of us who remember those days may have grown old, but we have not forgotten; a long tooth can still bite.