February 05, 2009

Circling the goddamn drain...

I read this yesterday...

I used to be optimistic about the capacity of our political leaders and central bankers to avoid the policy mistakes that could turn the current global recession into a deep and lasting global depression. Now I’m not so sure.

I'm not quite as worried about some of Buiter's concerns, least of all protectionism (mostly because there's going to be so much demand from China's infrastructure stimulus that basic materials are going to rebound sharply, even in the US). However, I AM concerned about the weakness in Washington. And the more I think about it, the more I'm ready to say, simply, FUCK IT. I can do that. I have money and I can survive a two year depression. Most of you can't.

In fact, a real depression would probably be good for me as it would allow me too pick up some great assets at 90% off their real value. Hell, I might just bail and leave you all here to rot. Maybe I'll be back when you fucks get your heads screwed on right.

Why am I saying all this? Because the public has turned against the stimulus bill. Democrats are actively working against their party and their President with the Republicans on more of this tax cut nonsense. The Republicans are easy... any failure of this bill will lead to a lot of economic pain and Democrats are going to get blamed. The Democrats working against this? They're harder to explain... I think it has something to do with a fundamental inability to understand economics and how to maintain a capitalist economy. I also think they're as goddamn stupid as this guy. Or this idiot who seems to think TARP was a bailout for the wealthy. Guess he wasn't paying attention nor does he seem to care that's it's left the Treasury with actual assets. Because he and those like him never understood TARP or TAF, they've been beating a political drum about it for a while. Now that beat has started to poison the Stimulus Bill.

It's kinda understandable, especially since the media is doing such a bang up job explaining all this to the American people. It almost makes me want to embrace what I see happening, the impoverishment of whole swaths of the country.

All the while our President sits on the sidelines, going on TV, seemingly content to let the whole thing go down the drain while the partisan bitterness he refuses to engage in consumes the Capital. Of course, he could step in and really decimate the Republicans. Maybe he will. But I certainly doubt it. My question, for now, is the same as this one... WHY ON EARTH WOULD OBAMA HAVE EMPOWERED THE GODDAMN STUPID REPUBLICANS??!?!?!?!?!?! Or, WHY THROW THEM ANY BONES IN THE FORM OF TAX CUTS THAT DON'T WORK? Has it occurred to anyone other than myself that President Obama and the Democrats are wasting our money on Republican ideas we know damn well won't work?!?!?!

Maybe, just maybe, the CHANGE we could believe in was nothing more than ineptitude. Not that asshat McCain would have been any better. I'm thinking more along the lines of Clinton or Edwards. God knows either of them would have already passed a much better bill and they would have browbeat the Republicans to do it.

Posted by mcblogger at February 5, 2009 12:07 AM

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