Hoffmania drew my attention to this tidbit from Bloomberg (following Bush's speech to The Economic Club of New York):The U.S. currency also plunged to below one Swiss franc for the first time as traders speculated the Fed will slash interest rates a full percentage point next week to keep a credit-market crisis from triggering a recession. As the dollar slumped, gold reached a record above $1,000 an ounce.The Tibetan protests against China as the Beijing Olympics draw near should make everyone anxious. If the Chinese, who own vast portions of our ever-increasing national debt, call that debt in, where do you think that leaves us?
Exactly.
More tax cuts during time of war, anyone?
How about bailing out the lenders (screw the folks who have mortgages, they aren't wealthy enough to buy politicians)?
You didn't really need health care did you?
OK, then, back to privatizing everything so the corporations (and their principal officers) can get obscenely rich on the backs of the workers.
Good times!
Update:
Check out Paul Krugman's less-than-encouraging comments about the mess we're in.
--the BB
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