Gerry Canavan

the smartest kid on earth

The Bailout, Part 89

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Olbermann and Maddow on MSNBC are reporting that the Asian markets are tanking in response to the failure of the bailout. The Nikkei is already down 5%, and the Australian stock market dropped 4% in the first fifteen minutes of trading.

I had my quarrels with him during the primaries, but at a moment like this I find Paul Krugman really indispensable. Fun, too; here he is on today’s political failures:

So what we now have is non-functional government in the face of a major crisis, because Congress includes a quorum of crazies and nobody trusts the White House an inch.

As a friend said last night, we’ve become a banana republic with nukes.

Written by gerrycanavan

September 30, 2008 at 1:06 am

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