(no subject)

[wrog]

2006 is only two years away; it took less time to get rid of Nixon and he actually won by a landslide in '72.

It amazes me that I wrote this line a year ago. I figured then that it was just pissing in the wind at best, but if Fitz really does have Cheney in the gunsights, ... well, hell...

Comments

[solarbird]

there's a lot of grain that was just harvested in the midwest that simply cannot reach its usual markets.
Absolutely true. And very bad for farmers.

nor is there a strategic natural gas reserve; that network is still spaghetti...
Here's hoping for a warm winter!

so, this may seem simplistic and naive of me, but I see a whole world of hurt in just the next few months.
I know. There are about a zillion red lights on this board, but they've mostly been on for quite a while now, and yet... chug chug chug. More consumer debt more consumer debt more consumer debt, negative savings rates, sustained negative wage growth, massive surges in energy costs, and yet nobody really seems to mind or think this is going to turn into an inflation shock, and somehow, the cost of import goods from China have actually been flat or falling. It makes me very very fucking nervous, but apparently, doesn't bother most of the people, and as long as people keep spending, well...

I don't get it. It's like this entire expansion is made out of smoke, and yet it's still moving.

[llachglin.livejournal.com]

Our economy is on borrowed time. We're due for a recession, and the longer we don't get one, the worse it's likely to be.

It kind of reminds me of the tech bubble, which was based on nothing and kept going anyway, and then burst dramatically. Instead of stock speculation we've got consumer spending based on debt, but it's got to stop sometime. It's just a matter of when and how.