Results of a NO RISK policy in life
This is going to hurt, and it will hurt more before this idiocy subsides. Life is nothing but risks, now these nanny state swells, “cushion me from everything, no bumps in the night” will find the pain of government cuddling coddling.
Global sell-off spreads through Canada and Latin America
8:41p ET January 21, 2008 (MarketWatch)
SAN FRANCISCO — The global-market sell-off spread Monday as indexes in Canada and Latin America plunged, following routs in Europe and Asia, and setting the stage for sharp declines when the U.S. reopens on Tuesday.
“It is no longer a question of avoiding recession in the U.S. any more. It is a case of damage limitation because the damage has already been done,” said Andrew Clarke, a sales trader at SG Securities in Hong Kong. The U.S. authorities “now have to get on and act fast.” [snip]
If any one thinks I’ve posted the past three items as a comment on economics, wake up. These are about our Congress, our imperial poobah, Dubya and the greed of the states for federal money with no attendant risk.
These are exemplars of a socialist Xanadu, or more to the truth, a mental meltdown. I have a serious problem with the GOP in this untidiness, they are up to their eyeballs in it. Anyone believing the Progressives will fix this financial anarchy, needs institutionalizing immediately.
Kicking over the anthill in a hurricane will get you get a lot of activity; the colony fills up with water and drowns anyway.
Three minutes until the markets open in the U.S.
Archived in: 2008 Election, Congress, Democrats, Energy Policy, Political Correctness, Progressives, RepublicansJanuary 22, 2008 at 9:29 am | Trackback
2 comments
The next madness is some kind of protectionism, designed to protect ailing American industry from foreigners.
Then the spiral begins.
Great posts, VW.
They are too late on that. The banking industry has been penetrated. When Citibank needed capital to cover government mandated idiocy, they had to turn to the Chicoms. They nearly had a heart attack when the rate quoted was 11%. Take it or leave it was the option; they took it.
Question: What do you think that will do to loan rates in this country for you and me? Can they lend that money for mortgages at 5.25%?
When GM (pick one) wants to build a new state of the art plant in, say, Michigan, will Citibank say, Hmmmm, we think you should build in Chinkland if you want the loan for rates under 25%?
How about the Saudis! Kuwait? Dubai? the UAR?
Kinda late to be worrying about protection.