I THINK IT'S PRETTY CLEAR by now that nobody has a freakin' clue. Nobody. Not Nobel laureates or soccer moms, not chimpanzees or blue-eyed lemurs, and certainly not the president of the United States understands how the stock market works. Yesterday, on the same day that the Dow Jones Industrial Average plunged an impossible 678 points, George Bush, the president of the United States, said "The economy is going through a rough stretch."
This is like hearing the mayor of New Orleans describe Katrina as a nasty storm. Bush sounded like he was reading a statement straight out of the lame duck manual. Quack softly and grab all the silverware you can before Inauguration Day.
Not a week has gone by since Congress passed the $700 billion bailout, and the market is acting like an orphanage that hasn't been fed its porridge. I've got news for you, in its values-warped mind Wall Street has already cashed and spent that two-quarter of a trillion dollar bailout check. And believe me the first ones to get paid were the ones closest to the money faucet. What we're seeing now is a black hole of fear, guilt and incompehensible economic practices that has all the inevitable transparancy of a Ponzi scheme. Everyone involved knows that this once high-flying economy was based on wind and mirrors, and now they want to grab the silverware on their way out the door.
Shame on all of them. Shame on all of us. We handed over our money as easily as children visiting The Field of Dreams and only now is it becoming apparent that there are no players on the field. Not even ghosts.
Leave a comment