Bozo Bailout Bust

Wow, over-night Asian markets are having their worst day ever! Other than for having the satisfaction of saying "I told you so" on this stupid, poorly considered 700 billion bozo bailout bill, I can't say I like seeing that happen.

I'm surprised. I'd somehow expected they'd be getting their own house in order, somewhat indifferent to and separate from what was happening in America; the idea being that basic wealth hasn't changed, only the mechanism is screwed up so some sort of temporary parallel structure should be possible. Guess I don't know nuth'n.

I wonder how politics is going to go in the morning, when all the political genius gents wake up and find their big bill did nothing? --How about the really dumb people, otherwise known as the US Congress, the US President, the US presidential candidates, and every appointed official within the US government, actually sit down and try to figure something out... other than just ask for a lot more money?

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About Noon.

Dow down 500? 600? Who cares? Boring story. They keep running the same line, over and over.

We need a new script. How about we stand Barney & Dodd up on the capitol steps and cut their guts out? A new twist, so to speak.

Or maybe just burn 700 billion dollars and then light some candles at night? You know,
something effective.

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Crude's down and I paid $3.07 for a gallon of gas yesterday. That's nice. --And Cuda is going after Bambi. That's about it for the good news.

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Note Last, (for the time being)

Russia suspended MICEX:

Trading on Russia’s ruble-denominated stock market, the MICEX, was suspended today after its main index nosedived more than 15 per cent on worries about global financial turmoil.

So, since Russia is now tin-pot third world, viable only by natural resource exploitation, and since oil is now in decline, and their untrustworthy market in free-fall; since this is very bad for them, it might be good for us. They are a rogue nation, and still have some force, unfortunately, because so many of the leftist sort still think they're still the Soviet Union and still have power. They bluster, the left blinks. But the good thing about the present difficulty is that if we're badly damaged, they'll be wiped out. If it damages us, it will destroy them. Bye-bye Poots, and we won't even have to defend Georgia. --This is again, a silver lining. Perhaps there are more. --Unfortunately, it seems voter sentiment is now moving powerfully Obama. Maybe he can make Pootsie his Secretary of State.

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3:50
Checking in.

(AP:NEW YORK) Wall Street suffered through another extraordinary and traumatic session Monday, with the Dow Jones industrials plunging as much as 800 points _ their largest one-day point drop _ before recovering to close with a loss of 370....

Investors have come to the realization that the Bush administration's$700 billion rescue plan and steps taken by other governments won't workquickly to unfreeze the credit markets.

No. Investors knew that Friday, when the markets started down at the same time as the bailout passed. It's only financial writers who have now realized that 700 billion is piddle compared to 63 trillion of infected credit worldwide. Our very stupid Mr. Paulson and our herd-panicked congressman would have understood that as well, if they weren't so infected with the idea that it's fun to spend tax payers money while pretending that a command economy is more powerful than the private market.

So we're all going to die. Oh well, it's nice out but threatening rain. Guess I'll go out for a walk in the woods while I still can.

Crude hit $87.56. That's good. I'm hopping for $40. That will take care of Poots and the Sauds. At least we'll have won world war three. --Still need an energy policy though. That probably won't happen without the Cuda.

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Jay Cost has splendid historical background explaining why Republicans are inescapably associated with this mess with the banks, and thus why about the only recourse left to McCain is to ignore the crisis and attack Obama's character. Obama, after all, is a pretty weak fish to be flopping in the oval office during a time of crisis.

Can they succeed at this? Perhaps. Again, Obama is unlike any major
party nominee seen in over a hundred years. Public opinion of him is based
largely upon political claims about him, as opposed to an immutable record
of accomplishment or even a long history on the national scene. That means
that the perception of who Obama is might be quite changeable. If the Republican
Party can succeed in changing it, they can win the election - even as the
banking industry's reputation falls into the gutter.

I say, "Bring it on!" At least it will be an entertainment.