The Fed is going to lower rates by half to .5% later this morning. What good will this do? It will not encourage banks to lend. It will not encourage consumers to borrow. It is inflationary and enough inflationary measures have already been taken. Too many, in my opinion.
Bernanke is out of his depth. Paulson was never a bright man and is clearly now broken by his job, aged beyond his years and looks vacantly, mouth agape, at the camera when making public appearances. Soon he will be drooling. Bush makes a nice appearance though. If they dressed him up in a little pinafore and curly mop wig, he'd be just like Shirley Temple. A little song, a little dance, a little seltzer down your pants.
Obama is going to be stuck with the counter productive actions these guys have already taken and will have to work with a Democratic Congress that wants to fund huge social programs. If I had any confidence I would get my share, I might be a little happier. I don't think that's going to happen.
Bummer. Fucked in the ass again.
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