Saturday, October 11, 2008
Shrub's Big Weekend
Well, the G-7 is meeting in DC with shrub and the rest of the cops. The G-7 are ministers from the US, Japan, Canada, Germany, France, Britain and..........Italy? Are you kidding me. How did they get in there? While the world is holding their breath, they are putting out announcements that they will do what's necessary to save the world from this financial death asteroid. Like what, for example? Details are sketchy but Paulson and the shrub have just about shot their wad nationalizing everything in sight.It's gotten so bad that Hugo of the jungle and his press are calling bush "Comrade Bush," and holding their tummies rolling in the aisles but they might want to keep an eye on their national coffers with oil falling through the floor. The time to enjoy their Schadenfreude may be short lived. Ditto Judo instructor Putin. The markets are signaling their lack of confidence with Washington selling everything in sight. Monday on the trading floors should be interesting. I'll tell you what my level of confidence is. My wife and I are taking a trip to the grocer to stock up on 3 months of staples. We are at the tail end of the supply chain here in this high alpine valley and if the grocer's credit dries up I don't think I could stomach Meals ready to eat brought in by my our Wyoming national guard who is over in Iraq anyway. Gordon Brown has seized Iceland's financial assets in England using a statute designed for terrorists. That is new way to think of bankers. Probably very accurate. You can imagine how that went over in Reykjavik. We're under a winter storm warning. The wind is howling and the snow is flying with 2 to 3 feet predicted over our neighboring Wind River and Gros Ventre Mountains. Quite a metaphor for what's going on in DC and New York.