Genghis: "You don't trust government to manage payments for health care but you trust government with nuclear bombs. "

Exactly.

The "decelerating" job losses, cb!!!!

In other words, jobs are being lost every month but the hemorrhaging is at a lower rate.

Evidently, Gaggy would prefer to be in an unemployment free fall rather than seeing it level out. Is that about right, Twitchy?

Snkls

Hypothetical situation: You are Fed chairman and you see an inflationary bubble in the stock market. What action do you take? Lower interest rates?

Same scenario with housing prices? Oil prices?

Maintain the expanding bubble instead of letting a little air out so it doesn't burst?

My hair doesn't catch on fire over a few percentage points for any given day. A longer trend, sure. Too often it just is a flaky reaction by pants-wetters.

DOW pops up to 11,850 - adds another 120 points.

Dow 22 points below all time closing high.

The problem originated with Frank and Dodd, the terrible PC "give all blacks mortgages no matter what" crew. They did indeed require this complete sacrifice of all rational lending principles of banks, as Uncle Buck points out.

After that, it was the securitizing of these bad debts and mixing them in with all mortgages indissolubly and then the rating agencies rating them triple A ------- and now because of all this, Moody is threatening to remove the triple A rating of the United States of America, as of last week.

And that is all the fault of the Democratic Party, via Frank and Dodd, who have collapsed the world financial system pretty much by them little selves.


It has little to do with the unlucky Fed chairmen.

Doesn't look like any big move today, however.

Still hovering right around 10,000.

Nerves about Europe, the PIGS defaulting maybe (Portugal, Ireland/Italy/Iceland, Greece, and Spain), but it is not yet a full-blown financial system crisis.

People are worried but haven't yet marked any disaster dates on their calendars.

I noted with interest this morning that a commentator said that a lot of analysts "weren't buying" last Friday's unemployment figures. I said this morning I thought the government is frankly lying about those figures. As others besides me are pointing out, how do you get so many jobs newly lost ---- and yet unemployment goes DOWN?

Improbable.

They'll present "revised figures" two months from now and unemployment will have been up to 10.7, I bet.