The Economy
by Dr. Pants on Nov.15, 2008, under Life and the Universe
If there is anyone confused about what the hell is going on with the economy, I am posting an episode of This American Life where they explain pretty much everything.
2 comments for this entry:
November 18th, 2008 on 6:32 am
The all been up drinking spirits from the sky.
It’s like figuring out the U.S. auto industry which was encouraged by the Bush administration to fight against legislation that would have forced it to produce more fuel efficient cars because that would have hurt the oil industry.
But now that the end of the profit taking from manipulating oil prices, derivatives, phony loans, and insider trading is at hand, and the auto industry is in the toilet, the only way out is to let the auto industry die, because that will kill the last of the powerful unions in the U.S.
And then the guys who made off with the profits in oil and banking and stealing the silverware can by up the foreign car companies who build their cars in the U.S. without union labor.
And the NOMF will just get so much better and so much happier that you’ll be able to shit on the street and no one will much notice.
That’s the American Way!
Let’s hear it for rational exuberance!
November 19th, 2008 on 3:58 pm
Don’t fight the confusion … it’s not worth it. The 2 former investment bankers in charge don’t want to share the wealth with other industries.
It’s a grand clusterfuck.