"if it's good news, it must be someone else's"

Thursday, September 25, 2008

687. how the hell did that happen?

louie anderson did a great bit about his being extremely overweight.
and it ended by his saying, it's not like i looked in a mirror one day and said, ooohhh, how the hell did that happen? like i just gained 300 pounds in my sleep last night.

yet that is how this economic disaster is being played.
up until a week ago, the flock was routinely told the fundamentals were solid.
today, it's an epic economic 9/11, and we have only days to figure out how to continue to borrow and spend before the great monetary mushroom cloud strikes.

well, how the hell did that happen?

and the same folks who brought us this surprise now shock us with cries to foreclose the future in order to feed the greed of now.
and by foreclose i mean: no to healthcare, education, innovation, and energy independence.
sorry barack.
not until we can get the gears of borrow and spend oiled and turning again.

excuse me.
i know i'm only about as knowledgeable in economics as john mccain, but to answer the fundamental question, isn't that how the hell this all happened?

it has been my rather simple contention for years that the so called economic growth was nothing more than borrowed, a pay-no-attention-to-the-man-behind-the-curtain economic growth if you will.
and the balloon payment finally came due.
and we don't have the money.
because we never had the money.
it was all pretend.
and rather than foreclose this fantasy now and endure the pain like responsible folks should do, we are being asked to refuel this shell came with a loan of a trillion (it's never as cheap as they say).
thus, foreclosing the future, since that is the only place this money can come from.

and for this, i apologize now to my son and the grandchildren i don't have yet.
my generation really messed this up.
big time.

who would have thunk that those three days of peace, love and music were an anomaly for what turned out to be "generation greed".

No comments: