Thursday, August 09, 2007

Dog Days

All the people who are anybody have left for their well earned vacation, leaving the common American peon, baseball players, and stock traders to keep the country going as best they can.
A big hit on the market today, but still in the range of the roller coaster type movement we've been having over the past month or so.

If there is one thing that would put the Bush administration in panic mode it would be a financial meltdown, despite all the crazy talk of the wingnuts about Islamofascism, it's been the huge bonanza that the wealthy have reaped over the past years that is the main source of his support from the media, the press, and all the 'very serious people' that are permitted to talk about policy in our national discourse. Reduce the money river to a trickle and these folks will turn on the administration and each other like a pack of rabid dogs. We'll see who is 'very serious' then.

So, it cannot be allowed to happen. The powers behind the powers that be have huge amounts of liquidity around to prop up the rotten edifice, and they will do their damnedest to delay meltdown until doomday or later, if possible. Congress will be told to shut up about China, and Congress does what they are told to do.

The global markets can be controlled only up to a certain point. No matter how much cash is on hand, the highly leveraged world of hedge funds (created to escape oversight) can swallow up more. We'll see how doggish these August days get.


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