Quote of the day
"You are watching something in front of our eyes, very historically, which is basically the destruction of New York as a financial center and the destruction of America as the world's most powerful country." Jim Rogers, CNBC
posted by Old Rebel @ Tuesday, March 03, 2009
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The big question is, do the knuckleheads overseeing this debacle even know that it's happening?
rex osborne,
I'd say the politically connected fat cats are using their clout to squeeze what little blood out of their hosts (us!) while they can.
"The big question is, do the knuckleheads overseeing this debacle even know that it's happening?"
Yes, many of them do. The problem is, many of them: a) have no idea how to deal with this crisis or b) are actually trying to deliberately destroy the economy. Ayn Rand once said that Communists would take over America by: 1) using an economic crisis to get their talons into the business world, 2) run the businesses into the ground with regulations, and 3) say "see capitalism doesn't work." Sound familiar to what is happening with the bailouts?
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