And so it starts, the blame game begins for the coming election debacle in Nov 2010 and the probable Demo political collapse in 2012. Rahm is out, Timmy G and Summers are marked men, Biden will retire for “health reasons”. The deck chairs are about to be shuffled, but don't expect it to make much difference.
The power structures are at war right now, the political vs the economic interests, the previous uneasy alliance, is coming apart. And it will be war with fury. Bam etal decided to play along, The Fed and Wall Street laughed and took them for a ride. Newsweek is just a pawn for these tools.
They were both betting that this was just like other recessions, 2 years and things would be “improving” and all would be well. Spend a couple of trillion and the market and jobs picture would be better and the voters will come home to the Demos.
But it didn't happen because we have reached the end of the credit cycle, the marginal value of all this spending is now less than 1, it costs more than it helps. Many could see this, most were uneasy with it, but the warnings went unheeded.
Bam and his ilk will be on the ash pile of history, the Progressives are dead. And all us regular folks will have to pickup the pieces from their folly, the US will never be the same. I for one am very angry ....
schu
Haven’t heard much from the little fairy Rahm recently. Is she in hiding?
The death of the Progressives could well be worth it. Although Freddie and Fannie still remain, and Wall St. still needs fixing.