>Bartender, give me a double toxic assets on the rocks! For those waiting for the other shoe to drop, “this bud’s for you”. Treasury Secretary Geithner unleashed the governments’ arsenal and Wall Street took a direct hit. The Financial Stability Plan, as was the case with TARP, buys time but little else for such a hefty price tag. By all accounts the plan is vague, has an inherent contradiction with respect to toxic assets and presents a drawn out timeline. It was really important for the Obama team to hit it out of the park and they fouled it off.
traumanomics.
Deleveraging America is a painful process. This is made all the more gut wrenching by the slowness of pace as well as the “cooking spagetti” approach to an agreeable solution. So far the government is just throwing resources at the wall and hoping/wishing something sticks. You can wish upon an OBAMASTAR all you want and the problem is not going to go away. So at the crossroads we stand. The signpost pointing left to nationalizing and the signpost pointing right to free market, ” let the chips fall where they may”. Unfortunately, it’s not a choice.
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>If you want a taste of madness it’s the line to the right. Short-sighted, self-interested and distorted significance lobby for position on this street corner. Survivors only, cries the neon halo. What about the rest of us? Americas’ special 24/7 going out of business sale.” We’re Slashing Everybody.” Is an All-American built and protected fist full of steel. Carbon included.
Delusional purveyors hock their denial in an economy of destruction. They carefully construct a disconnect of consciousness through the calculus of fear. Job security, national security, security from your neighbors’ dog, it’s a scary place out here. Universal isolationalism. Advertised and mezmorised, sanitized and pasturized just follow the yellow brick road down to the old dying soldout river of meat.
psychobabylon.
They say jump, you say how high? Everything is created in a bubble, within a bubble which encompasses all the free-will prisoners unequally. Consumerism is the great diversion giving with one hand and taking away with the other. The economy is a psychodrama played out in a ramped up, biased media campaign of values yet absent of morals. The puppet-masters create victims, it just works so much better that way. Victims don’t vote in a paper democracy.
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>The line from the song goes something like this, “there’s a hole in daddys’ arm where all the money goes”. Sound errily familiar? Not so if your a junkie. Not so if you’re overexposed. It doesn’t matter what number you throw at it, or what country, we are economic flatlining. Globally, get it? Nowhere to hide.
You don’t have to say the word, depression, in order to be in one! The way that bureaucrats and economists dance around the Dword is becoming comical at best and suspicious at least. In order to smooth the curves on the economic death spiral, highly educated well placed people are losing credibility faster than the average morgage-holder can swim. It is impossible to be swift-of-foot when you have fingers and toes stuck in the dike. The world economy needs to transend reaction.
bailoutblackhole.
Our short-term reactionary thinking is not going to cut it! Every quick fix comes with even greater consequence. Throw money at the banks and they hord it. Print more money and you have inflation. Print way more money and you have the peso. Invest in infrastructure and the people lucky enough to get jobs pay down debt. Nationalize the banks and congress becomes your loan officer. And it just goes end over end. Go to wikipedia and start your search with the history of economic thought.
In order for the negative economic spiral to fully come into play you require a physical economic component and a psychological component. So if batten down the hatches is the modus operandi then we’re fucked. And that is where I think we stand today. It’s not the edge of the great economic divide, it’s just a line in the sand and we have crossed it. So make interest only payments, hide the car and unplug the phone.
Somehow we have to liberate ourselves and I’m starting today by going boldly into the financial unknown, armed with nothing but a sense of adventure. And just for the record, time never retraces its own footsteps. So this is, “The Great Repression”, dated 2009 AD.
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