By now the tune is a little too familiar. The Dow continues its free fall and the sinkhole expanded forcing the IMF to do something, starting with Iceland. GM led the way down the rabbit hole following a prediction that the automotive industry will be wrecked against a concrete economic lane divider and explode in a fireball in 2009. Hope GM's got an airbag. Hope Alan Greenspan's got one too. This episode of Economic Cloverfield is shining new light on the former Fed chair's policies that unleashed the ravenous beast devouring banks and pocketbooks alike. As the descent into the new and improved great depression continues, the same sad tune is being heard on both main street and Wall Street. And all everyone is singing is the blues.
Thursday, October 9, 2008
Stop the depression, I want to get off
By now the tune is a little too familiar. The Dow continues its free fall and the sinkhole expanded forcing the IMF to do something, starting with Iceland. GM led the way down the rabbit hole following a prediction that the automotive industry will be wrecked against a concrete economic lane divider and explode in a fireball in 2009. Hope GM's got an airbag. Hope Alan Greenspan's got one too. This episode of Economic Cloverfield is shining new light on the former Fed chair's policies that unleashed the ravenous beast devouring banks and pocketbooks alike. As the descent into the new and improved great depression continues, the same sad tune is being heard on both main street and Wall Street. And all everyone is singing is the blues.
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