Friday, July 11, 2008

Dow 10,000!

Remember in the late 1990s when Dow 10,000! was all anyone could talk about (when our mouth wasn't jammed with lobster tail and champagne)?

Well, we all might get another chance here again shortly (when our mouth isn't choking on dust and squandered opportunities).

The back of the envelope calculation is really quite simple:

$10 trillion in national debt is a b*tch for a country's currency to carry on its back. Throw in the growing wealth gap, the trade gap, our addiction to outdated energy technology, financial sector uncertainty (greed/stupidity), two wars, high interest consumer debt and upside down entitlement programs and well, we laugh out loud when the "eggheads" tell us that the underlying fundamentals of our economy are sound at the present time.

Or that people aren't hurting.

Phil Gramm's recent comments do not reflect the thinking of economic conservatives who want to be taken seriously in 2008.

And believing that doesn't mean that we're a New York Times worshiping Communist.

Or Chicken Little.

Or that we don't think that America is the greatest f*cking country on the planet.

It just means that we believe that these guys are the smartest folks in the room.

Not some GOP dinosaur who hasn't had a good new thought in 15 years.