Tuesday, June 24, 2008

More gloom and doom

It's not me, I swear, it's the smoke in the atmosphere. It seems like earthquake weather, too.
But, hopefully, the earthquake will just be in the financial markets, where the rubes will get their just desserts, the the wise guys will move on, to find new rubes.

Anyway, read this cheery little interview with:
Michael Hudson is a former Wall Street economist specializing in the balance of payments and real estate at the Chase Manhattan Bank (now JPMorgan Chase & Co.), Arthur Anderson, and later at the Hudson Institute (no relation).
Entitled, aptly enough: “The Game Is Over, There Won’t be a Rebound” Mr. Hudson points out in a very concise way just how thoroughly we are screwed.

But, after reading the interview, let me interject this: if there will be no rebound, the solution for the US is to just reject the debt, and move on. Yes, it will throw the world into chaos, and yes, it will mean the end of 'democracy', but maybe that is the only solution. As it has been said:
We have not the freedom to reach to this or to that, but the freedom to do the necessary or to do nothing.
The kleptocratic clowns that are now looting the world had better be moved aside soon. Little time remains. The bubble economy is kaput.
(h/t Uncle $cam)


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