3 posts tagged with economy by troutfishing.
Displaying 1 through 3 of 3.
Drowning the government in a bathtub - "My goal is to cut government in half in twenty-five years, to get it down to the size where we can drown it in the bathtub." Thus spoke Grover Norquist, of Americans for Tax Reform. "The lunatics are now in charge of the asylum", quipped the conservative UK Financial Times. Hardly, says Paul Krugman. The strategy?: "Instead of challenging popular liberal programs directly, the Republicans are creating fiscal conditions that make those programs unsustainable." [lead post, Am. Prospect]. In other words, the 400 billion dollar deficit, coupled with the Bush tax cuts, is designed to shift the obligations of the Fed onto the States and, later, to cause a fiscal train wreck after Bush is out of office.
DIVE! DIVE! DIVE! - Markets in free fall. Remember the heady DotCom bubble days, and innocuous scandals - Clinton & Monica,the cigar?! Then, WHAM: 9-11, Enron, Worldcom et. al, the push for invasion of Iraq, ballooning deficits, while a new US neocolonial American ideology of preemption suggests more invasions to come - with a worldwide surge in anti-American attitudes. "Irrational Exuberance" turned to terror, fear, worry, anger, rage. What possible train of events and U.S. government policies could more efficiently send world economic markets into free fall? Hold on: it was a two decade long ride up - the ride down has merely begun. Those among us with a few spare billion lying around will wait until the bottom, and buy on the cheap. For everyone else, it's bankruptcy, frugality, middle class decline, cans 'o beans and darned socks. But cheer up: play, joy, creativity, generosity, indeed love itself - and also the classic "recreation of the poor" are all free.
Reality check from Swiss Re and UNEP "The increasing frequency of severe climatic events...has the potential to stress insurers, reinsurers and banks to the point of impaired viability or even insolvency." "Climate Change and the Financial Services Industry", a UNEP report supported by 295 banks and insurance and investment companies around the world. The report concludes that, worldwide, loses from Climate related disasters are doubling every decade . NOAA generally concurs. Dr. Bob Gagosian, Director of Woods Hole, has even worse news. Should we take the scientific mainstream seriously? Or is it all "Junk Science"according to the industry funded Steve Milloy or the CEI, or even a New Age Pagan Conspiracy? Play on little humans......play on.....