Well, there will be another round of Russian Roulette tomorrow. The protest against the insane bailout, one might have noticed, has been a young affair. The crowd that just lost their 401 k shit are an older bunch. Finally, we've reached a red state level where the gain/loss equation is clearly on the side of doing anything to keep the pain away.
Since I am poor as shit and have nothing at stake, here, I can just watch this for the sheer drama of it. The bailout bill was given such an ominous aura that it multiplied the effect that would happen once it was knocked down. I can't imagine that the markets will calm down in Asia, or in the U.S. tomorrow. Which is why I think there might be an extraordinary executive order coming.
... And in other news, I sent IT a find on You Tube which I knew would go straight to her heart - a pig in a 1908 interjecting himself into a softcore tease, or at least the hidden version of Mallarme's L'apres-midi d'un faune that begins: "Le Cochon:
Ces nymphes, je les veux perpétuer."
Well, our favorite Wiltshire goth philosopher proceeds to perpetuer a few archetypes herself. Check it out!
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I ain't got no monies either, so the plummet today doesn't really make me squirm overmuch. I wouldn't like deflation though. I owe too much in student loans to make deflation a pleasant notion.
ReplyDeleteYeah, I don't have too much dough in US$ either, and most of it in TIPS - inflation indexed treasury bonds. In the last couple of weeks the value of it dropped about 3-4%.
ReplyDeleteNot a tragedy for me, but it just goes to demonstrate that they really do expect deflation.
I've never experienced deflation in real life, and I'm curious how it affects everything else. People don't want to borrow money, I suppose? Will the RE prices fall farther or go up on low mortgage interests? Will the dollar appreciate or depreciate against other currencies? No idea, I can't even make a guess.