Archive for the ‘Paul Krugman’ Category

So the market rebounded dramatically today.

Again, I’m no economist.

I am here to testify that common sense can and must be applied to every situation. So, at the risk of sounding pessimistic, I say so what?

Paul Krugman won the Nobel for economics today. He’s sure Dumbya is a retard.

Volatility IS the problem. Inconsistency IS the nemesis. Symptomatic of emotional instability on a foundation that is rotting. Eroding. Today we witnessed some euphoric sentimentalism. The economy is bipolar, perhaps even schizophrenic. At this point, it climbs hills only to tumble down the other side.

Common sense indicates to me that the market has yet to find bottom and the gains of today won’t mean dick within a month. Irrational exuberance. Denial ain’t just a river, it’s the season and the reason for the vulgarity of most things these days.

An economic clusterfuck years in the making is far from vulnerable to a single magic bullet no matter how pure the silver of the slug. Such precipitous decline cannot be undone or even mitigated by one day of activity on The Dow; hardly the Holy Grail of economic indicators.

Unemployment flirts with nine percent in places like Ohio. Auto stocks at a fifty year low. Record foreclosures and markets across the world reeling, careening. We keep talking about the cash we’re going to throw at the fan but we simply don’t have any and metric tons of shit have already hit that same fan. What little paper we can gather will probably just stick.

The hangover has just begun. America has regained a tenuous purchase on consciousness only to learn that even the hair on our head aches with vengeance and what may be the cause of our awakening is the oxygen from the respirator or the fact that our balls itch like mad.

I’m sorry to tell you that we’re still screwed nine ways to Sunday and from hell to breakfast. Drastic measures are no less vital than they were last week.

Sooner or later the fan will have to be cleaned.

By the way, why’s the NYSE open on Columbus Day? Even the banks were closed in recognition of the Grand Pooh Bah champion of revisionist history. Columbus Day is a mere symbol of American douchebaggery. By most accounts, Columbus tortured, raped and pillaged his new world. Amerigo Vespucci most likely discovered or at least recognized North America and guys like Leif Ericson were here a half a millenium before.

Let us not forget the rightful owners, the indigenous, the native Americans whom we would spend centuries slaughtering while cramming Christianity down upon. Today I drink to them.

Whatever.

I’m still excited about Our Man and he’s doing better everyday. Hope and Change. He offers nuanced and reasonably rich conversation on our economy. He is cool and consistent. Wisdom, restraint, discipline. By contrast, McCain is an ugly sightless carp half out of the pan and flopping while a blind eye burns. Talk of firing staff three weeks before the election.

Even I have to confess that despite the quality of Barack’s ideas, there seems to be little talk of how they will be funded. I don’t expect him too get too specific as he’s already talking over a lot of American heads, but I sure would feel better if he would just tell everybody our ass is broke and this is gonna suck for a month or so of your least favorite day of the week.

I would welcome that honesty from Doubtfire as well.

Sooner or later the fan will have to be cleaned.

Fuck me, everyone should be saying it. Do they think it’s a secret?

Drinks for my friends.

Just like Doubtfire, economics is not my strong suit. I took macro and micro in college, over twenty years ago. I bought and sold a house that earned me a profit. Kinda. I can do math in my head. Kinda.

Ironically, in recent months I’ve become a banker, monkey suit and all. Not a real banker, but I sell credit, money. Most of my work is from home surrounded by empty containers of every kind. Gin bottles and ketchup packets, candy wrappers and Lysol dispensers. Fast food wrappers and plastic bags from Rite Aid.

I don the gorilla costume to actually show up at the bank and close deals I’ve solicited. Haven’t made shit yet, but I like my job.

Anyway, this bailout was a shitty bill, yet the stock market reacted disastrously when it didn’t pass. It cost American industry over a trillion dollars in one day. That’s a figure neither you or I have the capacity to even imagine.

The most humongous one day free fall in the history of the NYSE. Just last week we saw WaMu take the dirt nap. The largest bank in the history of the world to fail.

It’s gettin ugly up in here.

For once I agree with Ben Stein, he posits that the ideal would be a bill that extinguishes the fire from the bottom to the top. A bill that would allow for assistance to the homeowners and therefore trickle up if you will, to strengthen the lending institutions and banks on the verge of collapse. I’m a populist, so I tend to cast a favorable eye on an idea like that. The rich have made their money, the middle class are getting shithammered. The poor are more fucked than ever.

For you ingnorant fucks, ‘populist’ is code for socialist or even communist.

I also agree with Stein and Paul Krugman that something has to be done and fast. Credit must flow in ways you and I don’t understand. This is a financial conflagration that must have high pressure hoses trained on it right away.

Yes, it’s the fat bastards that are on fire, it’s weird how their outer layer pops and sizzles like bacon. I hate the smell of their hairy backs burning. Unfortunately, they still have the keys to the universe for most of us. Pricks. No matter what, it’s gonna suck, so we need to get started.

It’s ok they were allowed to burn for a few.

Put the fire out and hang the rich later.

I’m really not interested in who said what and why it didn’t pass. Pelosi chastised the dickheads and their panties ended up in a bundle. That makes them pussies. It’s awfully nice to see John Boehner get spanked by his own party though. I hate that guy. High comedy. Excellent drama.

Maybe just this once, partisan politics will lead to better legislation. Maybe. I hate to say it, but I’m of the opinion that congress needs to pass something and Dumbya needs to sign it. Sooner rather than later.

By the way, have you seen Dumbya lately? Looks like he’s been on the recieving end of a few too many blanket parties. I bet he’s drinking again and I don’t blame him. He’s the biggest fuck up in the entire world. He’ll end his days in a comfortable chair stinking of beer and cigarettes. In an upscale Texas trailer park. A doublewide with a paved carport at least. The high point of his day will be Jerry Springer and watering the dry patches out back. Around seven he’ll switch from beer to whiskey. His neighbors will like him and he’ll hang lights for Christmas until he falls in the kitchen and breaks his hip. He’ll stop beating Laura.

Forgive me.

What will be interesting, is the Vice Presidential debate on Thursday, the same day Congress returns after holiday. Palin vs. Biden. I like Joe Biden but it will be the blowhard against the moose in headlights.

What’s up with the old man showing up to hold Whats Her Name’s hand for round two with Katie? Pitiful. Sheezus. He doesn’t trust her and she doesn’t know shit.

So much for suspending your campaign and postponing the debate until the crisis has been averted, huh Doubtfire? Go home and ride the mower dude.

“He [Dumbya] tried to ruin the country in his first term, now he’s trying to ruin the world in his second term. Let’s not give him [McCain] a third term”. -Paul ‘high functioning moron’ Begala

“We may all be killed” -Paul, Blue Velvet

Drinks for my friends.