mercredi 15 octobre 2008

Now bailout the rest of the economy

After all their efforts and a lot of our cash, the great leaders must have been expecting a quieter week this week. But the stocks plummeted again. Seven percent in London, France and the US. The banks knew this down turn stock shock was coming and got their bailout in first. There's nothing left for the rest of the useful parts of the economy. Even the trillions poured into the banking circuits, though, are hedged in the media - they 'aren't a panacea' 'they might work' 'we hope they will work' - as Bernanke said sounding wobbly this morning on Bloomberg.

After all that money, the bank rescue plan only might work and the real economy is in recession. Another few days like this one, and the whole system will start to creak.

We on the left must arm ourselves.