I always get the impression Jim’s method of coping with the collapse not proceeding as he envisioned or a fast as he forecast is to double up on his bets, ratchet up the rhetoric and pretend that nobody noticed he said the same things last week about this week. For weeks he’s been slogging the same material about the hedge-fund boyz and the financial sector. I wish he’d take a deep breath and take stock of how history has been playing out.
Depending on how one views things, this present financial “crisis” has been unwinding since between last June and August. The housing bubble has been bursting since 2006. A recession hasn’t happened yet and if we are in the midst of one, it won’t be officially confirmed for another 4 months. The price of gasoline is $3.30 – it was $3.00 in 2005, two-and-a-half years ago. There is plenty to go around. Gasoline demand in the US has dropped just slightly in the last month from its 2007 levels after rising for at least 4 years. It’s unclear whether or not this is simply a statistical variance. GM and Ford continue to sell cheap over-powered, overweight monstrosities even as they mismanage themselves into the ground.
If this is a Long Emergency, it is a really long, really slow one.
Some things I wanted to talk about when I get around to it.
Respond to Nudge about fuel-efficiency article I posted the other day.
Hitchens article on Clinton’s Tuzla sniper-fire trip.
Hitchens article on Obama.
Taibbi article on Presidential race.
60 Minutes on tortured German detainee / tie-in with WWII / Retribution http://www.cbsnews.com/sections/i_video/main500251.shtml?id=3980799n
60 Minutes on Bill James
Nightline piece on Plastic in the Pacific.
Badr vs Sadr in Iraq.