Monday, February 02, 2009

Herbert Hoover Lives
Frank Rich has a good column on the economy tanking.
HERE’S a bottom line to keep you up at night: The economy is falling faster than Washington can get moving. President Obama says his stimulus plan will save or create four million jobs in two years. In the last four months of 2008 alone, employment fell by 1.9 million. Do the math.[...]
What are Americans still buying? Big Macs, Campbell’s soup, Hershey’s chocolate and Spam — the four food groups of the apocalypse.

It is a good article worth reading in whole.
Also, via Krugman
“Say I’m a banker and I created $30 million. I should get a part of that,” one banker told The New York Times. And if you’re a banker and you destroyed $30 billion? Uncle Sam to the rescue!

Better yet, are you going to pay some of that back? Once again privatize the profits and socialize the losses. Socialism for the rich.

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