I wish I was smarter about the financial mess going on in the country. Everything from the mortgage crisis to the collapse of major financial institutions in the past few weeks has my head spinning, unable to figure out exactly what it all means. Especially with the government, the Federal Reserve and the mainstream media all classifying the current economic situation as mostly "troubling". Gas remains above $4 a gallon, yoyoing up and down between that and five bucks. The stock market trips and tumbles over 500 points in one day. But still not a recession? Maybe I'm having difficulty seeing what's going on because of all the wool over my eyes.
The latest interesting development I can't figure out is how the "save" of insurance giant AIG is being credited to the government, although the real bailout is coming from the Federal Reserve. Which is about as governmental as Federal Express. It's a private corporation, owned by a consortium of private bankers, with a figurehead who is appointed by the President even though it's NOT a governmental agency. At least as far as I understand things.
So there's some serious misdirection going on right now -- as if somebody hired David Copperfield, Doug Henning, David Blaine and Chris Angel at the same time to pull off the biggest magic trick in the world. Someone wake me up when they finish sawing the fat lady in half...which should be right after she's done singing.
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