Looking at the wildly see-sawing graph on the New York Times website that represents the stock market this morning, I have to say that it reminds me of nothing so much as the EKG of someone having a heart attack.
Told you so. Ups and downs are the heart beats of the economy. Fed tried to prevent the downs by lowering rates in the dot-com collapse and in the process created a gigantic bubble aneurysm. Collapse was inevitable from that point. Crisis could have been avoided, but since congress trusted the same crooks that created this mess, America is doomed. $700 billion package came exactly one year too late, and went to the wrong address anyway. More will follow and the congress in its panic state will give Henry Paulson dictatorial financial powers. Everything else falls, but the Fascist business model remains. This has been obvious for a year for anyone who has a brain. Only the clueless and the talking heads in the TV still deny The Fall of Rome II.
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(Anonymous) 2008-10-11 07:18 am (UTC)(link)