Friday, June 6, 2008
On impending disaster.The Dow lost almost 400 points today or 3.13 percent. Oil went up 11 dollars, following a $5.50 jump yesterday. I was feeling a little ridiculous for being such an alarmist and for being on edge about the economy. That lasted two days. Today it is back. The bicycle option will be seriously explored and all survival scenarios are back in play. This will make the Great Depression look like a mere downturn. And the politicians who are going to try to get us out of it are just as miss guided and economically ignorant as they were in 1929. In 1933-34, 10,000 pages of regulations and law was added to the less that 3,000 that made up all of the United States legal code since 1789. The first year of the next administration is likely to make that look like composition book. Between the war, the economic disaster, and "global warming/cooling" (which ever is in a year from now.) the fury at which Congress is going to write laws and the President is going to issue Executive Orders is going to be an Arctic blizzard. We are in for a wild ride.
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