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  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: [Homestead] Throwing the Gun
  • Date: Fri, 3 Oct 2008 17:53:35 EDT

You know the scene in the swashbuckle, adventure, or war movie. The
protagonist is defending against overwhelming odds, certain doom, he draws
his pistol
and begnins shooting. Bang, bang, bang, ..,. click, click .... then in an
impulse of desperation, he throws the gun at the rapidly advancing enemy.

That's what's just happened. As many, moi-self included, have opined, those
thrice weekly announcements that the Fed was injecting $60B then $100B
dollars
was the first few rounds, then they forgot to count the shots as the last
bullets in their gun were discharged at AIG, Fannie, and Freddie.

The bailout passed and signed today it the frantic, last ditch, ineffective,
and panicked throwing the gun at the enemy.

-----------------------------

Now, financial reporting is a curious thing. The rise and fall of stock
values seems to have no basis in reality and the most idiotic news sends the
numbers widely up and down. Even with no dog in the fight, it's amusing to
read
them in times like these. And they've gotten to the point that they go
something like this: "Stocks soar today as CEO finds 37 cents in the pocket
of his
spare pants." "Stocks plunge today when company vice president learns the
Wendy's coupons he was going to use for lunch have expired!"

The most amusing have been the analyses that appear in groups of four like
this:

Stocks higher on the fact that A didn't happen.
Stocks lower on the fact that A didn't happen.
Stocks higher on the fact that A did happen.
Stocks lower on the fact that A did happen.

Yeah.

Recently it has been this heinous bailout bill. Over the past week these
comments acutally appeared on some of the financial news sideboards:

Stocks higher today on prediction that bailout will be defeated.
Stocks lower today on prediction that bailout will be defeated.
Stocks higher today on prediction that bailout will be passed.
Stocks lower today on prediction that bailout will be passed.

Todays tag was a jewel. "Stocks sharply lower on economic news inspite of
bailout."

Yeah.

Fact is the economic news all broke early this morning and DOW was up more
than 300 points in the afternoon. Then the very moment the bailout was
signed
into law, it began to drop losing 486 points by closing.

The big IF has been, what if the bailout doesn't "work"? Of course it can't
"work", it is a PR job to try to keep the crumbling economy intact until
after
the election. And it isn't working. We (collectively) have now shot all our
rounds and today we threw the gun at the enemy.

If McCain had any savvy, which apparently he decidedly does NOT, he would
have stuck with his previous guns of 'no bailouts' and squarely opposed this
bill. Then when the economy sank, he could say "See, I told you, I told you
I am
the maverick, I'm the only one who stood firm agaisnt this and now
seeeeeee....."

But he didn't. Flippin' idiot!

Now we ride out a depression or else the government does what it did in
Germany in the '30's, what Argentina did, what Brazil did, and what recently
Zimbabwe did ... we keep bailing out this and that until the currency hyper
inflates
and, like Zimbabwe, we start issuing $100B dollar bills and it takes fifty of
them to buy a loaf of bread.

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