Thursday, March 5, 2009

Party Time

The White House is having an usually good time. There are elaborate dinner parties with famous celebrity singers and musicians night after night. Obama turns out to be a terrific host and entertainer and they certainly don't spare the expenses in this White House. When discussing the stock market on Tuesday, the young President smiled as if he knew something we didn't. He probably does.

It is a wonderful time for the President and for his allies in Congress. I don't think Barney Frank has had this much fun since he coerced Fannie Mae and Freddie Mac into accelerating their massive move into lending to the bottom of the credit barrel. That worked pretty well. It induced enough bad mortgage loans to give Barney something to do. Lord knows, he needed something to do.

Meanwhile, business folks and investors are facing the prospects of an economic ice age. First came the $ 787 billion "aid to my supporters" bill, followed by the "judicial cram down." The judicial cram down would get even with all of those awful folks in the financial service industry including those terrible insurance companies. We can do without all those financial service firms! What do we need them for anyway in this new America of change?

"Cap and Trade" should destroy at least one million jobs. Who needs jobs anyway? After all, we just raised unemployment compensation. That should do the trick. And, if that doesn't get it done, the new health care mandates and their costs will shrivel up what's left of American small business and create a whole new world of demand for outsourcing. Want a job? Move to China. Or, perhaps India. There is no "card check" or "cap and trade" over there. Only America is going with "cap and trade." The Chinese and the Indians understand the economics of climate change. That's why neither country has any interest in walking off the cliff of "cap and trade." That's America's suicide mission. It will be fun to watch, but why participate?

Meanwhile, back at the White House, things are going very well, thank you. The polls are still shining as the financial system crumbles into the dust. They worry too much about the "day to day" activity of Wall Street, muses our new President. What does it matter? If we can just get to twenty percent unemployment before the next election, then I can complete the rest of my "agenda for change." On to "card check!" There are still businesses out there left to destroy! It's a great time to be alive (and in the White House).