Happy Belated Bear Stearns Day!

2012 June 12
by Dave

I can’t believe I let the 4th anniversary of Bear Sterns being rolled up go by without mentioning it. Obviously Jamie Dimon didn’t forget and celebrated in an appropriate style by lighting two billion dollars on fire. I feel like I should drive out to the reservation and buy some fireworks so I can throw an explosion in honor of the occasion.


So I’m kind of thinking back to mid to late ’09 when reputable economists were starting to say that a Japanesque lost decade was the best outcome we could hope for if the folks at the stick could managed to crash us just right. By that metric today’s state of things is a success. You might even say that we are over-performing since the Fed has managed to keep deflation at bay so far. Go team.


The local Circuit City has finally been replaced by a Ross. Progress of a sort.


The biggest question mark hanging over everything is how much obligation the Republican candidate for President will feel towards the wing of the party that wants to follow economic policies that will provide an extra kick in the junk to the economy. The obvious assumption is that Wall Street will be able to counterbalance that force if it manages to enter into a power sharing government of a Tea Party Congress and a Romney administration. I worry that re-election would prompt them to light at least a few fires.


As for an Obama re-election, we know what we’d be getting so the only question is whether or not it is attainable.  If the economy muddles along as is with no catastrophe and Romney manages not to screw up too badly we will be in for a squeaker in November. Right now my entire political feeling is “Please God don’t let Rand Paul be Vice President.”

Boom …

Any way, happy Bear Stearns Day. Couldn’t you have gotten me something nice like some token climate change legislation or bank regulation?


 “And just cause they call themselves experts it doesn’t mean sweet fuck all.”

-Amanda Palmer

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