September 08, 2007
Shit Happens…
…and Jim Kunstler knows it. So go read the essay at Clusterfuck Nation from which this excerpt comes.
The trouble we are seeing in the financial sector is largely a result of blowback from tens of millions of people who tried to get something for nothing. It is a circumstance that is now beyond the control of the Bushes, Paulsons, and Bernankes. Their intended-to-be-soothing statements on Friday will not hold back the implosion of cascading defaults and cumulative insolvency. A few “poster children” may be symbolically rescued to try to prop up confidence in this-or-that paper, but an awful lot of other people and institutions will just go down, unfortunately, because of their own bad choices.
A strange new meta-reality will assert itself in America: that shit happens …
Posted by Jerome Doolittle at September 08, 2007 08:51 AM
Comments
few “poster children” may be symbolically rescued to try to prop up confidence
Kind of like the lady and her family who had gotten her house rebuilt in Bay St. Louis just in time for Bush's last photo op, right?
Posted by: jurassicpork on September 8, 2007 6:02 PMPost a comment