Random Thoughts

I haven't posted anything about the economic apocalypse for a while, and with markets apparently recovering, it seems like the worst is over. Eternal pessimist that I am, I think the world economy is just taking a break from the collapse mode for a while before continuing the collapse again. If you want to check out some historical market data in a user-friendly form, take a look at dshort.com. If history is any indicator, we're not out of the woods yet. I think that markets have recovered a bit mainly because of the trillions of dollars that the US government has printed. That money had to have some effect, but in the medium to long term, it's got to be inflationary. The US government is now borrowing or printing $.40 for every $1.00 it's spending. On any elemental or intuitive level or even theoretical level, how long can that be sustained? Chrysler has declared bankruptcy, and GM is not far off. The State of California is essentially bankrupt now that voters have rejected all of the ballot initiatives that were designed to stave it off for a while. And California is not the only state in trouble. If the federal government can bail out the banks, will it bail out the states too?  Is there any end to the bailouts? What will happen to governments and local economies all over the US when state and local governments start defaulting on their bonds? 

On the civil liberty, constitutional front, I'm not convinced that Obama is a whole lot better than Bush. He's just a better speaker in a more attractive package. Obama is trying to close Guantanamo, but he is also advocating indefinite preventative detention for some "terrorists" who the US government will not put on trial. How can this possibly pass any sort of constitutional muster? The best commentator on this and other legal matters has to be Glenn Greenwald at Salon.com. If you're at all interested in these issues, check out his arguments.  They are cogent, intellectually consistent, and quite readable.

But while the world is going to hell in a handcart (just where did that expression come from?), the weather is good, and the weekend is long. Therefore, Megan and Farley are going to join me on Waveguide for some fun and sun in the South Sound. That sounds a lot better than dwelling on all the negative news out there, doesn't it?