Tuesday, February 05, 2008

SeeSaw Economics

A week ago, oil prices went up, anticipating the Fed's interest rate cut. Now they're down, anticipating a recession. Come on.

And this ridiculous scrambling about trying to cork a bleeding economy is utterly ... well, ridiculous. The economy doesn't perk along beautifully and suddenly crash. The stock market can do that, but the economy has to build toward something. If we have our economy directly tied to and dependent on the stock market, we're idiots. All that smiley crap about how great the encomony was, and then suddenly, everything's crumbling is a bunch of B.S. The subprime lending fiasco was a fiasco when it started and was permitted. The enormous national debt secured to support corporations and the military has been climbing for years. Offshore business didn't just come into the picture this winter. Etc., etc. It's not like old Alan Greenspan didn't see the problems coming. It's that he either couldn't do anything to mitigate them, or wouldn't. But he was shrewd enough to bail just before things tanked publicly.


....but hey, do what you want....you will anyway.


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