Comments (6)

• Libertas est Veritas

• Germany appears to be hard hit and Iceland's currency is rated above only those of Zimbabwe and Turkmenistan. Icelanders are apparently already hoarding foodstuffs, since supermarkets have no way of paying foreign currency advances to import foodstuffs.

  I just hope people will draw the right conclusions from all this, but I doubt it. They'll go crying to the government to fix it all and we'll end up with even more government.

  Yay!

• Published: October 6, 2008 6:34 AM

• fundamentalist

• I guess others have noticed, too, that the politicians and news media are trying to reduce expectations on the success of the bailout. After pimping this harder than they pimp for Obama, and telling us the world would end if Congress didn't pass the bail out, the mainstream media are now telling us that it may not be enough, that bad times are ahead anyway. So no matter how bad the economy gets, even if unemployment reaches 50%, they will always say it would have been worse without the bailout. Morons!

• Published: October 6, 2008 8:12 AM

• Jeff

• “We are not a political federation,” Jean-Claude Trichet, the president of the European Central Bank, said. “We do not have a federal budget.”

  I think that pretty much sums up how dangerous and powerful Central Banks really are.

• Published: October 6, 2008 8:29 AM

• David Spellman

• The bailout was never intended to save or even to reassure anyone. It is merely a slush fund to protect the interests of certain people. Bernanke, Paulson, and Bush knew it would have no effect on the coming disaster, but they wanted to get the money approved to provide for their allies' safety.

  Consequently, we see the house of cards collapsing despite any bailout measures. The ship is going to sink no matter what, but it is amazing to see the rats scurrying overboard with gold ingots strapped to their backs.

• Published: October 6, 2008 12:37 PM

• toolkien

• I've always had an odd fascination with the 30's and the depression. It's nice to know I can experience it firsthand now. But I think, somehow, people are going to look back on both eras and see the 30's as tame comparitively.

  Jefferson said that a country needed revolution every 75 years or so to blow out the apparatus like carbon from a muffler. From the Federalization of the US we had one in the approximate 75th year and the Northern Federalists won that one, and we were due for one in the depression and we had the Nazi's to go after so the "revolution" was offshore (and unfortunately it was just the start of our papering over of economic failures). Now it's the third 75th installment. Hang on 'cuz I think we're in for one hell of a ride. There are a lot of old scores to settle and there's nothing like fear and rumbling bellies to set it all off.

• Published: October 6, 2008 1:08 PM

• Kimbo

• Bailout 2008, a poem by David Jeffrey

  Like a bloodied warrior,
  laying broken and torn.

  Like a dying soldier, hopeless and forlorn.

  But the blood, it be green,
  the color of money.

  And the soldier is an economy,
  and it is anything but funny.

  Broken are it's people and shattered are their dreams.

  Thanks to the ultra rich and their full proof schemes.

  It is a tragedy with more pain to come.

  Finance will be Hell, and their wills will be done.

  
  

• Published: December 2, 2008 11:31 PM