Mystery

In the short time I have had to peruse the economic news I haven't been able to grasp all of the ramifications but I do have some observations.

A 3/4 point cut in the key interest rate is an indication that the Fed is in panic mode which means that the White House is also in panic mode. When in danger, when in doubt, run in circles, scream and shout.

We are running out of room with respect to how much the Fed can do to affect the economy and are very rapidly approaching what Krugman calls a "liquidity trap" where there is not enough slack for the Fed to do anything positive.

We are in "deep kimchee" economically and there is basically nothing that will stop the American economy from going into a recession that will probably not be short and will most assuredly be painful for the average Joe and Jill.

The rest of the world senses the danger of an American recession and is acting accordingly.

The incoming Democratic President (hopefully) will inherit a monumental mess both domestically and internationally and will be hard pressed financially to do anything about it in the near term and the strong possibility exists that the Democrats will inherit ownership of this mess.

The Shrub will stand out in the brush on his ranch in Texas as say "Who Me?".

30 of seconds advertising during the Super Bowl will cost $2.7 million. How about that for setting priorities? Anheuser-Busch will spend about $17 million for ads this year or six minutes worth. How many more people will switch from real beer to Bud as a result?