Another reliable fake-news tonic for the real news during 2009 has been, of course, The Onion. In my opinion, The Onion’s video segments are a bit of a hit-or-miss proposition, but one subset of them cracks me up pretty consistently: … Continue reading
Tag Archives: economic crisis
What’s funny about the current economic crisis? At the root of it, nothing. I have spent most of 2009 as one of the who-knows-how-many millions struggling with unemployment and dwindling resources. One side effect of unemployment is that it gives … Continue reading
Just when you thought my blogging inconsistency couldn’t get any more shameful, here it is – my first post since September. As even a cursory glance will show, C&B has been mute during a period filled with events of historic significance: the spectacular collapse of American financial conglomerates, bringing the national (and hence, global) economy to the brink of utter ruin; the election of the first African-American President of the United States, who furthermore appears to be capable of getting America up off the mat; and the lamentable passage of Proposition 8 in California, inserting language into the state constitution to strip rights away from gay people… to name a few.
Another day, another eighty-five billion dollars. If you’ve had your back turned, or your earbuds in, or you’ve been transfixed by Sarah Palin’s boobs the last week or two you may not have noticed the Federal Reserve opening its checkbook. $85 billion for insurance behemoth AIG, $70 billion more to feed into the market so that credit won’t totally evaporate, and last week’s credit lines of up to $100 billion each to bail out mortgage guarantors Fannie Mae and Freddie Mac. Congratulations, fellow taxpayers – for the low, low price of $350 billion we are now the proud owners of three huge, insolvent companies.