It's the End of the World as we Know It...

Well, here we are in mid-September, and it seems that America is going to hell in a rocket powered handcart. I often remarked to my wife that W had managed to drive every single business he has ever been involved with into bankruptcy and ruin (Texas Rangers excepted, and he was not in control of that franchise- somebody had a LITTLE sense there- they just bilked the taxpayers in that deal)

But I assumed that the entire American economy was too big a boat for even W to sink. Well, I am reminded again what ASS-U-ME spells...

In the past weeks we have had the federalizing of Freddie Mac and Fannie Mae, the failure of one of the oldest investment banks on Wall Street and the buyout of Merrill Lynch (!) by Bank of America. And all the main stream media seems to be able to focus on is lipgloss and barnyard animals.

On talk radio tonight, I was amazed - Did you know this was all Bill Clinton's fault? (of course it is!) Apparently he FORCED the banks to make predatory, sub-prime loans to minorities (you know, scary black and brown people, oh no!) to fulfill his socialist agenda. And those banks just kept it up all through W's terms as well because, well, Clinton was obviously still holding a gun to their heads.

Amazing how disconnected some of these folks are from reality as perceived by normal people. You don't even have to scratch the surface hard to figure out that is a load of BS, but why accept the blame for W's mismanagement of the economy when you can blame it on the Clinton's, who are apparently all powerful even out of office.

But what I am finding really scary now is this. The Bushies are all talking about how the economy is sound, and there is no need to be afraid of runs on the banks like there were in 1929.

Every time somebody from the Bush administration says that they are NOT going to do something (like bail out Bear-Stearns, or nationalizing Freddie and Fannie) you can count on it happening within 2 months. It's as inevitable as the rising in the east.

Pundits are starting to use the "D" word (Depression) in hushed tones. At least Bernake did his academic work on the Great Depression. He may have the chance to actually apply what he learned in school. God have mercy on the rest of us.