Wednesday, December 10, 2008

Hearing the sounds of a global crisis.

Splat! Treasury notes sell at the lowest rates ever as investors scurry to buy into illusory safety.

Splat! Oil demand falls worldwide. (Although, now that I think of it, it may be a bad sign for the economy, but is probably going to be good for world security in the long run as oil-based tyrannies topple under the pressure of their income vanishing.)

Splat! Oil prices fall.

Splat! Another industry is at least partially nationalized to prevent it from going under.

I'm not the only one seeing that deflation is a probability, not a possibility. I'm not the only one that sees shades of Roosevelt's New Deal in the current economic crisis, although I hope the government intervention planned doesn't stretch things out as long. I'm not interested in who's at fault for the current difficulties except in preventing them from destroying the economy again, once it's stablized.

The sounds I'm hearing aren't of the sky falling. They're the sounds of a world-wide shitstorm beginning.

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