Monday, February 09, 2009

The Downward Spiral Revisited

So on the one hand, we have congressmen trying to plug the hole in the bucket - but realizing that the hole is $4t and they dont have the cash... then you have unbelievable morons at CNBC asking for stock tips from two of the only experts who saw this coming as if nothing has really changed... and now news that Geithner has won out over the more extreme thinkers (like Krugman) and we're going to end up with some bleeding Japan-esque downward spiral into 10 years of misery and what looks like 10 trillion dollars of responsibility (that you know will be called in). This makes the RTC fraud from Bush I look Mickey Mouse.

If you're not paying attention to how bad this situation is... this thing is so much uglier than Obama laid out to the American people. Though he was the best choice for having the ability and balls to fix it... it seems that even he doesnt have the cajones to change the system the way it needs to be changed. I guess it's all just going to get really really really crappy around here.

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