#1
He should have stayed his hand instead and protected depositors (printing money if needed (bond defaults will cause more deflation than printing the money for depositors will cause inflation)).
#4
A major meltdown is when all the banks & ATMs are closed, no one accepts credit cards, your boss has locked you out of your workplace, and the water & electric companies have shut you off, not because you didn't pay your bills, but because they can't afford to stay in business. No, this is a minor meltdown.
#5
Most of the current meltdown appears to me, in my abysmal ignorance of matters financial, due to stupid moves by the current administration in Washington exacerbating the accruing costs of delaying unwinding the credit default swap positions... whose past and current value both cannot be known until the unwinding is complete. But again, my real understanding of finance pretty much stops when Mr. Wife gets my checkbook balanced... and we are both awfully glad he's the one balancing it.
One exchange stuck out - by which I mean, it made me roll my eyes so hard I almost tipped the couch over. "What happened to the American Dream?" Owl-guy says to the Comedian, after they've dispatched a late-night demonstration demanding more police, instead of masked vigilantes. "It came true!" grins the Comedian, meaning, all the violence and oppression and fear and war. The dream was always a nightmare. It wasn't about a family and a place of your own and a car and a plot of land where your kids could play; it was really about pedophiliac murderers in filthy apartments and Nixon's third term and the repression of alternative energy, and other inevitable consequences of the fascist model masquerading as liberal democracy.
It's all very deep when you're in high school and the 'rents are being total Nazis. At this point, though, no one's used the term "American Dream" without scare quotes since the second episode of "Laugh-In," so any piercing insight may ping off the skins of viewers who don't stamp around the mall glowering at the Phonies. It's an artifact of the 80s counterculture, an echo of the dyspeptic souls who masked their hatred of humans with high-flown concern for humanity, a bizarre example of reality denial: the war they insisted was an inevitable outcome of the US posture in the 80s never happened, so they remake the era with Nixon at the helm and kill millions to force us to come to our senses so we won't do the thing . . . that we didn't do. "... dyspeptic souls who masked their hatred of humans with high-flown concern for humanity" -- I had a Constitutional Law professor at the time who fit that description perfectly. He was the "international human rights" advocate who admired Mao Zedong, treated his research assistants like dirt, and spent half the class in Castroesque political rants.
Kind of like Bill Ayres without the bombs.
Posted by: Mike ||
07/27/2009 05:57 ||
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A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
