The patient is in cardiac arrest. We need "the paddles" not advice on how he should lose weight.

The Virginian ^ | 3/10/2009 | Moneyrunner

[moneyrunner]

Diogenes, Put Down That Lamp. We May Have Found An Honest Man – On Friday, the Kansas City Fed’s Hoenig gave a speech in Omaha, Nebraska. In the speech (which was mostly about the "too big to fail" debate), President Hoenig appeared to join into a perception that permeates the trading floors. That thesis is that, despite the presumed best of intentions, government rescue efforts have been far too “ad hoc” and neither comprehensive nor cohesive. That is the perception that relates to the actions of both the prior and current Administration.

After outlining the series of actions both by the Fed and the government, Hoenig simply said:

The sequence of these actions, unfortunately, has added to market uncertainty.

The folks over at Bespoke Investment Group have noted the sharp drop since Inauguration. They relate it to a couple of initiatives. Here's what they wrote last Thursday:

While there are plenty of factors at work behind the current decline, it is hard to chalk it up as mere coincidence that the most recent leg down began on the day that Congress passed the $789 billion stimulus plan, and accelerated its downside last week with the release of the Administration’s budget. ...

[mo]

Its quite simple unfortunately. Too many of the nations’ economic, social and political leaders quite simply belong in jail. The true tragedy is that they have, in partnership with one another, deliberately swindled most of the world..rendering us effectively “friendless”

[agere_contra]

No. The patient is NOT in cardiac arrest.

The patient is weak, anaemic and suffering from multiple parasite infestations. To treat him, the poorly-credentialed doctors of the Obama administration are applying leeches.