Wednesday, December 17, 2008

Everything Wrong, All The Time


1) Create Zombie industries via nationalization. Check.

2) Sow the seeds of hyper-inflation via ZIRP (zero interest rate policy). Check.

3) Sow the seeds of public unrest via crony Corporatism. Check.

4) Prop up equity/ bond markets via Fed/Tarp tinkering (purchasing awful assets). Check.

5) While propping said markets, insure there is so much scandal/ impropriety (Madoff, ARS, MBS, IB bonuses, relentlessly dumb CNBC bulls, un-hedged hedge funds) that no sane person will ever invest in those markets again. Check.

6) Saddle Gen X/Y/Millennials/grandkids/great-grandkids/ great-great-grandkids with gazillions in debt, higher taxes and zero growth. Check.

7) Elect Congressional leaders with no understanding of economics, so we are steam-rolled by the cult of personality of Bernanke-san and Paulson Sachs. Check.

8) Happy talk. Check.

We are still a democracy.

The fault lies not "out there".