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The timing couldn’t be better. Indeed …
Just as the Obama Administration launches a triple tirade of new initiatives — a record stimulus package, a bigger round of rescues, and the largest deficit financing of all time …
Just as the Treasury Department doubles down on its bailouts for sinking giants — Fannie Mae, Freddie Mac, AIG, General Motors, Chrysler, and Citigroup …
Peacenik watched CNBC when he got home from work yesterday. Peacenik could see the panic in the faces of the pundits and their guests. Jim Cramer was sorrowful. Even Larry Kudlow was having a hard time pretending to be optimistic. But the crazy thing was that everyone was blaming Obama. It was like 30 years of neo-conservative malfeasance didn't happen. Peacenik isn't sure why such unbalanced, unfair and dishonest TV coverage is allowed. It was a 3-hour commerical for neo-con wingnuts.
Peacenik thinks maybe it is time to bring back the "fairness" doctrine. Peacenik thinks it is time for a whole new crop of pundits. Oh, and this morning: Toyota needs a bailout. And GE had to cut its dividend. And pension plans are crashing. Will the markets bounce back today? If investors read and believe the front page of the Globe and Mail today, "It's Not All Dooom and Gloom", then the market might rebound. Peacenik doesn't believe the front page of the Globe and Mail.
