The whole corporate limited liability elite has a nice long high-unemployment program awaiting us. No matter how we turn at the polls -- we mere job smurfing rubes are in for a shit slide.
Both the Orthrian mastheads take Wall Street's dacoit state $700 bill whale of a bail to be a fiscal contraint of titanic(*) proportions -- one that will stymie spending well into whatever next administration we the weebles choose.
Policy translation: no full employment deficit for Uncle Sam next year -- no plunging dollar, no trade rebalancing, no forced march toward green production, no come-home-kids world peace crusade. Instead: misery on Main Street, stagnation in the trade gap, and old glory spilling (and dripping) blood somewhere or else -- "over there".
This earth-rounding financial blight will bite us all and bite deep. Our choice come November? The next Herbert Hoover or the next Grover Cleveland.
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*Double meaning intended.
Comments (7)
Bill Clinton was the second Grover Cleveland. Given Obama's Wilsonian bullshit, I say we're in for a little dose of Woody.
Posted by Michael Hureaux | October 4, 2008 1:52 PM
Posted on October 4, 2008 13:52
Woody Harrelson? Well, he'd still be better than either Skeletor or the Plaster Saint.
Posted by AlanSmithee | October 5, 2008 9:04 PM
Posted on October 5, 2008 21:04
This whole bailout crap put me over the top. 12 members of the Congressional Black Caucus voted no first time around, but after Obama pressure (threats) every one changed their vote. I recently began an Economic Populists Act Blue page.
http://www.actblue.com/page/economicpopulists
Posted by henry dubb | October 6, 2008 5:47 PM
Posted on October 6, 2008 17:47
I'm not sure that high-unemployment and a "trade deficit" are problems, per se. Germany has, I think, about 10% unemployment, but is largely free of poverty* and the trade deficit is a canard--most so called "imports" are being produced by US companies, in many cases assembled from component parts originally made in the US. The problem, with the economy, and everything else, is that the government acts in elite interests rather than the interests of the general public. The solution is an increase in democracy.
With respect to "green production", the solution, in many cases, is simple ended or reducing production not making the same crap with "greener" methods.
*Personally, I was happy being unemployed, for over a year, but eventually got a job supposedly in order to pay rent. But in the long run, what I do for a living, helping Sony sell more junk, is doubtless doing more harm to society than were I just living on the dole.
Posted by Peter Ward | October 6, 2008 9:20 PM
Posted on October 6, 2008 21:20
where are the shoulder boards
the drapes of golden braid
the medals commemorating
battles lost home populations
to be civilized
we have no 'middle class'
hero? no paternal
bonaparte what
shame
Posted by 5to12 | October 7, 2008 1:59 AM
Posted on October 7, 2008 01:59
Did anyone catch this "debate" between EPI and the Cato institute? guess which one came out in favor of the bailout, despite all its horribleness...?
http://knol.google.com/k/knol-debates/the-bailout-of-the-us-financial-sector/1zs871mejtqiw/5
Posted by tim d | October 7, 2008 8:59 PM
Posted on October 7, 2008 20:59
"sell(ing) more junk, is doubtless doing more harm to society than were I just living on the dole"
if fraud is theft by other means
then selling is fraud by legal means
Posted by op | October 8, 2008 10:42 PM
Posted on October 8, 2008 22:42