The Honeymoon Won't Last

I admire President-elect Obama for his involvement in the economic arena, particularly since W is hunkered down in Hussein's spider hole, but this bullshit about $7+ trillion devoted to bailouts and the naive folks in and around Wall Street who keep staging rallies around Obama's speeches, is more than I can comprehend.

In short, I'd like to say we're fucked. I hope I'm wrong, but where the hell is this money coming from?

The Federal Reserve and the Treasury announced $800 billion in new lending programs on Tuesday, sending a message that they will print as much money as needed to revive the crippled banking system.

It's rare that I have a slight disagreement with Rachel Maddow -- i.e. "it is probably necessary to spend such a huge amount of money on this problem..." -- emphasis on probably. And if we actually have the money. And who is we?

Beware of shit hitting the fan soon. Don't stand in front of any fans.

And I don't think I'd count on China to bail us out of this one.