the Treasury bailout plan (the mother of all moral hazard bailout) is socialism for the rich, the well connected and Wall Street; it is the continuation of a corrupt system where profits are privatized and losses are socialized. Instead of wiping out shareholders of the two GSEs, replacing corrupt and incompetent managers and forcing a haircut on the claims of the creditors/bondholders such a plan bails out shareholders, managers and creditors at a massive cost to U.S. taxpayers.
If the chosen solution to the fire is to pour oil onto it, surely we can expect an ever greater conflagration?
How can "consumer sentiment" recover if consumers are even more impoverished by inflation and a net transfer of resources to Oil producers?
How can the US recover if the escalating costs of Iraq are compounded by increased oil prices.
I don't see the basis for recovery in his analysis... "It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."
But I agree that he does not acknowledge that the recession from Japan had pretty much the same origins and was a real catastrophy. He does acknowledge it however in what he thinks the correct solutions are: no bail outs. Rien n'est gratuit en ce bas monde. Tout s'expie, le bien comme le mal, se paie tot ou tard. Le bien c'est beaucoup plus cher, forcement. Celine
they're bailing out the richer at the cost of inflation, which punishes the poor.
whose patience and capacity for submission is finite. The person who says it cannot be done should not interrupt the person doing it. Chinese Proverb.
The real problem with Paddy O'Bama's anodyne centrist campaign is that it contains no analysis of the roots of the problem and thus it will all be his fault as soon as he takes office. "It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."
Obama's Irish roots found to be Protestant - Telegraph
New research has traced Mr Obama's maternal family tree back to his great-great-great-great grandfather Joseph Kearney, a well-to-do shoemaker from Moneygall, Co Offaly, who lived from 1794 to 1861. Mr Obama's roots were uncovered by Canon Stephen Neill, a Church of Ireland rector, who found baptismal and marriage records in the house of a late parishioner, Elizabeth Short.
How the hell am I supposed to be able to vote for him now? "C'est un scandale !"
It's tragic that he's not also gay and a former fighter pilot, but I suppose you can't have everything.
- Jake Ceterum censeo Chicago esse delendam
As Maher pointed out one night: "Oh, Congress looks like America -- we've got blacks, Asians, Hispanics, and whatever else is in Barack Obama." WHEEEEEEEEEEEEEEEEEEEEE!
you forgot he has a grandmother in kenya living in a mud hut!
roots, baby! The person who says it cannot be done should not interrupt the person doing it. Chinese Proverb.
The Irish were the blacks of the modern western world before the Muslims ever were.
Oh, quit your whining. We gave you Boston, didn't we? ;)
Actually, one of my family members has an old (very old) sign that used to hang over a pub somewhere. It reads "No Dogs or Irish". It's hanging in his garage somewhere. Being partly of Irish descent, he gets a kick out of it. WHEEEEEEEEEEEEEEEEEEEEE!
