Letters to the Editor
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Scorpio69er
You're hilarious! I can't quite remember that old line of yours about "you're so far out in left field your with the winos in the third parking lot..." Help!
It would be even more fun if we had some right-wing market fundamentalists to throttle. Those were the days. They're all in hiding now.
I still remember that extended exchange you had with q. It was really quite amazing. You had him cornered and backing up the walls, chewing his toenails, and he still wouldn't concede. I should have archived that one, and I didn't, and I'm sorry. It was the best investment against a right-winger I've seen on the net.
We could use more of that these days. But the right-wingers can't make the arguments they used to because they've finally been discredited by the facts. They're not going to be around any more for us to say 'we told you so'.
The damage is done. 'Weird ugly' is coming.
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@ walter_map
re: "The middle class is going to resent it, although I was mostly kidding about the heads on pikes."
The ruling class isn't taking any chances:
http://www.globalresearch.ca/index.php?context=viewArticle&code=20060819&articleId=3006
But I'm gonna screw 'em up by taping frozen pizzas all over myself! I'll have a slice of pepperoni while I stick their heads on pikes!
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@ walter_map
re: "Those were the days."
Ah, yes, when those idiots were still trying to convince themselves that crafty old Saddam had buried all those WMDs in his sandbox. Jesus, talk about shooting fish in a barrel...
But it was great fun, knowing we were (of course) right and that it was only a matter of time before their pathetic spin smacked up against the wall of reality.
In the present case, I sure wish we were wrong.
But we're not.
Well, time for me to hit the books.
Aloha from Hawaii. It's another beautiful sunset!
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Scorpio69er
I didn't get an Editor's Star this time. I'm so disappointed. I might have to bring out my A material.
But all I really want is a right-wing supply-sider to mangle. Just one. Refute him with facts, toast him with a hot turn of phase, roast him on a spit. Eat him up, chew him up, spit him out. Make him like it.
Then I'd be happy.
Krugman has been pretty quiet about all this. Eventually he's going to come out with a column which is . . . how can we say it? . . . terminally smug.
If asked, he'd probably say that he addressed the causes of today's recession years ago, in critiques of Bush economic and regulatory policies in several articles, and doesn't need to revisit old issues. Which is true. This one's a done deal, and was for years before it got started.
Relative to previous downturns the present distortions and excesses are enormous. This one is going to hurt. A widespread recession, including the US, isn't avoidable, and the chances of avoiding a widespread depression are only about 40%. That's in the near term. In the long term it's a guaranteed 100% because of a number of factors.
The good news is that slave workers in India and China will be mostly unaffected, and may even prosper slightly because of the increasing resort to Indian and Chinese slave workers due to the severe economic pressures. This of course proves that capitalism really works.
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How to Commit Mortgage Fraud
It's a not-very-sophisticated series of obvious frauds, all avoided by any regulatory or law-enforcement agency. Larceny legalized.
The extremely wealthy profit enormously, so that makes it perfectly ok:
http://www.wisebread.com/how-the-banks-were-fleeced-a-primer-to-mortgage-fraud