Friday, January 25, 2008

A bipartisan breakthrough

Popping of corks...flutes of bubbly champagne of hope. Congress and mini mouse Bush have agreed on a bailout package for the ailing US economy. The benefits are for those who are not in dire need? Has anyone thought of slags in ghettos, the large pockets of urban and rural poverty, the rust belts, the growing army of the unemployed? Apparently not. Look at Davos where the powerbrokers of industry and government, the sychophants of the chattering classes and the usual flotsam and jettisam of the coupon clippers, are holding an annual confab. The mood there is hardly joyous. It is more awaiting for the other shoe to drop...the fear of economic uncertainty in the eye of an economic downturn and recession...And they don't know what to do these shakers and makers of industry and government and moulders of received wisdom!
Still Herr Bush and Congress think of but one thing, encouraging more the US consumer's thirst for acquiring things. Yes the American consumer is pulling the engine of growth worldwide; he's in deep debt, and yet he is told to buy more and go deeper in debt. He saves less than his vis a vis anywhere else in Europe or Asia. That how dolthead Bush sees economics...he learnt well at Harvard Business School and his track record of failures in the private sector says much about his acumen! Cuts in the in the prime interest rate may buy time, but it won't keep away the storm...nor will it save these rich vermin from their true reckoning.

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