Anything but the Economy or lack thereof

The Moe Preznit President strikes again.



Apparently Dear Leader wants to make Iraqiranistan the issue of 2008.

He's going over to the Company's proxy state in the middle east, Israel, and insisting the National Intelligent Estimate is all wrong. Olmert, of course, loves him those Company dollars, and whole-heartedly agrees.

If that wasn't enough, he's urging his Wahhibi creditors to take on the Great Shia Menace. No, silly, not Iraq.

...President Bush urged wary Persian Gulf allies on Sunday to rally against Iran “before it is too late,” even as the International Atomic Energy Agency announced that the country had agreed to answer outstanding questions about its nuclear programs within four weeks...

Never let it be said Dear Leader does not act like he drinks his own Kool-Aid.

While he's trying to keep everyone's mind on the Terra from Iran and not the Terror on Wall Street, anyway.

The Big Shitpile appears to have allowed Bank of America to absorb Countrywide, but it's not clear in the longrun who's going to absorb whom.



But it's all fundamentally about the price of oil. The Company wants the oil price as high as it can get it, creating superinflationary pressures. Also, the bankers want to wring as much out money out of the credit $ystem of the United States as possible. To do this, Dear Leader has sought almost complete deregulation of banking and lending.

Everything has been to get the Consumers to Consume. The tribal memory has been remarkably long after that little dust-up in the 1930s, and the stagflation of the '70s, and the roller coaster recessions of the '80s and '90s, and the long continuous and ruinous recession of the Bu$h preznitcy [unless, of course, you made over $500,000 a year, in which case you were part of Bu$hie's Ba$e]. Everyone realized that a lot of money in the bank just tended to get Disappeared in value.

To get around the reluctance to save, the banks got people to borrow. And to try to make sure they paid on time, they jacked up interest rates for those that couldn't, and talked Dear Leader into making it hard for them to get bankruptcy protection.

Leading, of course, to the Big Shitpile, since people that can't pay to terms, just tend to walk away.

So along with galloping inflation, which the Feds control by jacking up interest rates, you got the failure to spend, causing a slowdown, which the Feds control by lowering interest rates.

Ben Stein is right. This is what happens when the Three Stooges run things, and Moe is preznit.

Now Dear Leader is promising some kinda action this week, but don't count on it to really accomplish anything, unless you think a finger in the eye and a bonk on the head of the American public is particularly productive.