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Advisor

A quick round up before another Monday.

Obama asked congress for another $50 billion to bailout States and Cities.

 

And another $50b for a jobs bill

 

TPTB can't decide what to do with Fannie and Freddie, but its likely to cost taxpayers $160b-1t.

 

The economy - still a swirling, sucking eddy of despair.

 

And yet the worst of all - the spill in the gulf.  We're really just coming to grips with the economic impact of this, on the environmental side its easy to see that this is as bad as it gets ( with the possible exception of China on any given day), but the economic impact is much tougher.   BP, the forth largest enterprise on the planet, is essentially bankrupt.  That in itself is enough to crash a good economy.  The largest parts of several states economies are about to be gutted, economies that are already as sick as can be.    Obama has just a few months left to pull a rabbit out of the hat before becoming a lame duck.  May be to tough a job even for the ONE.   He is gong to have to weight the political consequences with the UK against justice to injured party's.  He'll have to weight the consequences of BP going bankrupt and how to protect the injured from BP's retreat into BK. 

 

It'll take more than words off the teleprompter at this point, better do something and quick.

1 Reply
Advisor

Re: A quick round up before another Monday.

"The economy - still a swirling, sucking eddy of despair."

 

Something's got to give and who knows what it will be, or when.

 

Saw something about this eariler today on TV.  Shouldn't they be rolling in it?

 

 http://www.reuters.com/article/idUSTRE65D0S720100614

 

On China:

 

http://www.startribune.com/opinion/commentary/96181519.html?elr=KArksc8PSmiley Tonguec:Ug8PSmiley Tonguec:UiD3aPc:_Yyc:aUUr