Congress, of the 9% approval rating, is debating non-regulatory provisions in a massive banking system bailout. The President is there, backing the Secretary of the Treasury to pass an initiative that will further destroy his blasted legacy. The hopeful Presidents are there, milking every moment for political gain.
The rich watch and wait, demanding the security of their investments and wealth, pressing their expensive stilleto heals and patent loafers into the throats of our nation's leaders.
Bankers wait, wondering how the paradigm is about to change, clinging to their overwhelming sense that if they could just borrow some more, head back to the table one last time...
And the public, with no idea how or why this is happening or what it means, gather their torches and pitchforks to rally against an unseen foe. Vowing to throw 'em all out. Looking for a lever to press, a building to burn, a car to flip.
The best part is? We haven't even felt the consequences yet. Just the calm before the storm. The credit cards are still burning, as we all cling to lifestyles that are about to be drastically, irrevocably reduced on a national level. Every balance sheet in the country feels like an albatross - from the consumer, to the company he/she works for, to the government chartering the corporation. We don't even remember what paying down one's debts FEELS like. What paying cash really means.
It's a beautiful, black mountain of waste, greed, and debt. We haven't even begun feeling what liquefying that is going to feel like, and already the masses are restless. This is more than unwinding Bush's bubble. This is setting the national financial clock back to the 80's, when the credit boom began. Maybe all the way back to 1934, when the modern financial system last began anew.
Hell of a time to be alive.
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4 comments:
Jesus Christ! If I wasn't already worried...
Sing it, brother. Doom.
"Gentlemen, you are worried about the depression. You should not be. For capitalism, a depression is a good cold douche." - J. Schumpter
Thrift will once again be fashionable. Our country needs it.
Agreed, Pat. There are benefits. But painful lessons will enrage those of us who have gotten by on phantom largesse. I wonder what the impact will be if the Democrats cannot deliver what they've promised. We're not just going to turn back to the hated Republicans if this is the state of affairs in 4 years. It will be bad.
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