Monday, September 29, 2008

Now what?

Maybe I'm not that good at body language, though I've spent years with unstable children; and maybe it's having to speak to a semicircular audience of journalists outside the White House, and he hasn't learned the actor's trick of seeming to direct his attention steadily to one indeterminable member of the audience; but Hank Paulson's statement made just now (c. 21.45 British Summer Time), with the left-middle-right upanddown movement of his head, and the earnestness of his mouth and lips, makes him look panicky.

But maybe the worst players in the banking market should be allowed to burn out anyway, as Marc Faber has said for a long time.

How many of the crucial 10 swing votes in the House were down to the polemical fax-fomenting of Mish, Denninger at al?

And will the Establishment force them to vote again and again until they get it right? Nancy Pelosi and her "bipartisan" mantra (3 or 4 times in one statement) seemed to hint at this.


Wolfie said...

I have a feeling tomorrow is going to be a nightmare (today was bad enough).

matt said...

This high will last until they ram another version of this bill through. Man, I'm happy.

Sackerson said...

Hi, Wolfie, hope you're a bit happier now. I didn't think thered be two days like that in a row, you get breathers and self-comforting periods before the next drop, don't you?

Matt - happy for democracy, I guess. If anyhting good comes out of this, it'll be the realization thet the national finances must be stabilised - failure to do so may have nasty military consequences. The struggle against totalitarians is not over by any means and it is criminally irresponsible to let the defences and bargaining position grow weak.