Tuesday, September 23, 2008

Party Hats

I have followed this market meltdown closely. I can't decide if need to plant a garden and get some guns or buy party hats. I read that we have 516 trillion dollar derivatives market. That means every dollar has been sliced and diced into micro pieces and called whole again. Kind of like the Sorcerers Apprentice, you know, Mickey Mouse chops up the broom and new brooms from every splinter. This was one of the most depressing things I have seen lately concerning all this money biz.
article

700 billion is like putting a party hat on 700 pound Gorilla and thinking he will get back in the cage. Maybe it's enough to suture the wounds and keep on with our silly ways.

Wednesday, September 10, 2008

Palin said what.......

This is hard to believe.

Referring to the government's bailout of Fannie Mae and Freddie Mac, Palin opined that the two had "gotten too big and too expensive to the taxpayers," displaying abysmal ignorance of the fact that only now will those privately owned banks become a huge taxpayer obligation, as the federal government takes them over. Nor can the meltdown of home values be traced to those two beleaguered institutions, because they did not make the original subprime mortgage commitments.

from truthdig.com
Robert Scheer

These takeovers are huge. The government owns over half the mortgages in the country. I have to laugh. This is like communism. She has no idea what's going on.
Are we being taken over by weird religious, conservative communists? What the fu*k is going on. Does anybody care about anything but lipstick or should I say lip schtick?