The Observation Deck

This whole crisis.

Something is not right.

Something is terribly wrong.

Bush administration says it is very important right now. Others not sure. Republicans up for re-election say no way. Democrats like a deer in the headlight ponder but are not saying no. instead they are looking at ways to manage the money.

Meanwhile McCain starts to hint he is not for it.

Could this be a way for Republicans running for office a chance to stand-up to the worst president in American history? Distance themselves from the third party they are running against GWB?

Funny, Obama runs against Bush. Then McCain runs against Bush. Obama claims change. Then McCain claims change.

Another manufactured emergency, just in time?

Something is not right with all of this.

I smell sulfur.


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and while the government is stumbling over itself to bail out private companies, one of the richest men in the world is spending several billion of his own money to buy up one of the companies.

I don't know about you, but I'm keeping one hand on my wallet.

Buffet is throwing 5 billion toward the big banks as a personal sacrifice. it gives a dose of prozac/valium/alcohol to "the market"'s self-esteem. Think of it as a retro-active income tax if top tiered income and capital gains taxes had veered toward where they had been for most of the 20th century.

McCain and Obama are racing to washington. It is important to be seen doing something. what questions will they ask? what are these mortgage backed securities? are they 700 billion dollars worth of empty foreclosed homes? The last purchase price of these homes? the purchase price plus 30 years of interest? what are the feds buying to let wall street off wall streets hook?

think of it as at least 700 billion dollars of alternative economic activity. It had to keep going for the last 20 years to prove de-industrialization and globalism and suburban sprawl worked. These investment companies deserve to succeed because they believe in free trade and tax cuts. many of their top guys had MBAs from Harvard or Yale.

JOB wrote: I smell sulfur

Jim, you need more fiber in your diet!