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Saturday, August 11, 2007
Sound Economic Principles

It's been a real roller coaster of a week on Wall Street as stock markets jump around and nosedive. Traders are nervous, investors are panicked, and I don't give a damn.

It's all abstract, meaningless bullshit. I understand that these billions of dollars that evaporate came from the pockets of real people, and since we're also talking retirement accounts and all manner of investments, some of it was probably my money, too. It makes no difference to me. In spite of everything it would mean in terms of a serious reduction in the quality of life I would experience, I would like to see it all go to hell, and sooner rather than later.

An extended depression in the economy is inevitable, as economists have suddenly realized that extending mortgages to people who cannot possibly pay them back is not simply immoral. It's far worse.

It's bad business.

And even though the wholly bought and paid for Republican Congress changed the bankruptcy laws in the past couple of years to make it damned near impossible for normal people to get relief, when you ain't got the cash, you can't pay the vig. And since "reputable" (hah!) banks don't break legs, they are now saddled with trillions in properties that are worth less than what's still owed, due to the downturn in the housing market.

Burn baby, burn.

Let's see some banks go out of business! I want to see stockbrokers and CEOs, parasites who produce nothing, I want to see them jumping out of windows the way their predecessors did back in more honorable times. People used to take responsibility when they ran the boat aground, now it's no one's fault.

"It's just this damned economy. No one could have foreseen what would happen."

Time to start over.

Let's put a thousand men to work fixing that bridge in Minneapolis. and let's get another thousand to dig those miners out of their tomb in Utah. Why not get another twenty million on top of repairing all of the other decrepit infrastructure in this ticking time bomb of a country? And maybe we'll pay them a decent wage, and repair their injuries when they get hurt, how would that be?

The president said Thursday that he would block any attempt to raise federal gasoline taxes in order to fix the problems we face here in America.

"That's not the right way to prioritize the people's money. Before we raise taxes, which could affect economic growth, I would strongly urge the Congress to examine how they set priorities."

I wonder if trucks and trains full of consumer goods sailing off of bridges would affect economic growth. I wonder if helicopter action shots of minivans full of pretty white kids and their soccer moms being crushed by elevated roadways would make people think twice about going to the mall to buy useless shit they don't need. I'm not a graduate of the London School of Economics, but my guess is that this sort of thing would unsettle people.

President Shitbird refuses to raise the tax on gas, which hasn't been boosted in 14 years, even a nickel, one stinking dollar for every twenty gallons sold. He is incomprehensibly shortsighted. The only people that can't see into the next day are children, the insane, and fucking morons.

Pick any two you like.

This has moved beyond dereliction of his duties as president. This if malice with aforethought. It's bad enough that he has defiled huge hunks of the Constitution, that he has the blood of American soldiers killed in Iraq on his hands, that of Iraqi civilians, and also completely ignored the Presidential Daily Briefing titled "Bin Laden determined to strike in US." His rationale is that if the gas tax is raised, people might actually drive less, and his cormorant oil cronies might see their profits fall from preposterous to merely obscene.

That's all he has knocking around in that little rat brain of his. "What can clown do for you?"*

*You, of course, being a billionaire.

The damage done to this country by this president and people like him is not irreparable. It will take decades to fix, but it is possible. As usual, it will be the working people that have to sacrifice while the blocks are restacked, and the scales move closer to balance. The people who wrecked the house, as ever, will not be inconvenienced by the laborious cleanup.

So I say, let it all go to hell, have the rich and poor alike in the streets selling apples, and let's see how it shakes out. Let the stock markets fall by 80%, the people with mansions will let rooms, we will default on our debts to the Chinese, unite as a country and tell them to suck it.

I'm done with it. I can do with less.

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posted at 12:10 AM

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