Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Well, if we manage to fend off a depression

That's a big if. The current system is against the wall. And even if it manages to come back (which we'll know by Monday), the point that it is fucked up has been made abundantly clear to even the most vested insider:

U.S. Stocks Gyrate After Global Selloff - NYTimes.com

"This is atrocious," said Howard Silverblatt, senior index analyst at Standard & Poor's. "People are scared. Nobody believes what is coming out of the mouths of politicians, chief executives."

Consequently, I think the chances for a New Deal moment are higher than I've ever seen them in my adult lifetime.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt ät gmail dotcom) on Fri Oct 10th, 2008 at 10:31:11 AM EST
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