Friday, July 02, 2010

ECB Armageddon Recap

Yesterday I posted saying today was going to be dangerous. Let's review -

Globally Spain just barely squeaks in another bond auction while getting it's debt downgraded, the ECB is kicking the debt can down the road and trading it for a boulder, housing prices have crashed in Ireland, and our pimp China's economy is just as much of a lie and is tanking.


Closer to home, US jobless rates are spiking again (Fine recovery we're having here) home sales dropped, cities are cutting fireworks, HooverObamavilles are springing up all over, debt is historic, spending is beyond farcical, the dollar is crashing again, Feds are losing their appetite for spending, and I believe I detect the shrill cries of the harpies on the wind - "Will someone please think of the children!"

But alas, I am speaking too soon as all is well because Obama has a plan for you to go back to work. Seems like this decade is sharing an awful lot of commonalities with the 30's. Now where is that dictator?

The Real Effect
Ask yourself, is this the legacy you want to leave your children?

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