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Subject: the wheels are coming off
Bart--I'm sure you've heard a lot already, but just to reinforce what you're hearing:
Lehman Bros., in business since 1850, has just collapsed.
Merrill Lynch has been absorbed by Bank of America to prevent a total meltdown in the stock brokerages.
A group of banks is putting together a $70 billion
EMERGENCY FUND to insure liquidity
for other banks. That's what they're calling
it. That's ominous.
A big screen has been put in front of the White House so observers can't see who's coming and going.
Washington Mutual is under pressure; AIG is looking for a $40 billion handout.
The European market has just opened and it's down three per cent already.
Gold just spiked by $22 in the last few hours.
The Freddie/Fannie bailout will probably cost 10x what was originally projected.
Greenspan said this weekend that McCain's proposed tax cuts would be a disaster.
Hugo Chavez just kicked our ambassador out of Venezuela and told us to fuck off.
The New York Times is talking about Wall Street expecting disaster this week.
Fuck the polls. All bets are officially off, and
Grandpa McCain was already starting to drift
downward from his convention bounce.
Oh, and Phil Gramm, McCain's chief economic advisor,
was the driving force behind the deregulation
of the financial sector in the late 90s, which
means that most of this bullshit is his fault.
Even right winger Ben Stein is calling him out
on that!
Things are getting intense.
Joe Miller
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