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Attack at dawn
Posted By Richard Fernandez On October 7, 2008 @ 3:01 am In Uncategorized | Comments Disabled
Fear and loathing everywhere. The sky is falling. We’re all going to die.
During the past week, we have tipped over the edge, into the middle of the abyss. Systemic collapse is in full train. The Netherlands has just rushed through a second, more sweeping nationalisation of Fortis. Ireland and Greece have had to rescue all their banks. Iceland is facing an Argentine denouement. The US commercial paper market is closed. It shrank $95bn last week, and has lost $208bn in three weeks. The interbank lending market has seized up. There are almost no bids. It is a ghost market. Healthy companies cannot roll over debt. Some will have to sack staff today to stave off default. As the unflappable Warren Buffett puts it, the credit freeze is “sucking blood” out of the economy. “In my adult lifetime, I don’t think I’ve ever seen people as fearful,” he said. We are fast approaching the point of no return. The only way out of this calamitous descent is “shock and awe” on a global scale, and even that may not be enough.
Meanwhile, GOP.com is doing an Obama dump. All the Obama scandals you ever wanted to hear about and some you didn’t even know about.
And Obama is ready to pay McCain back in his own coin. As I wrote, it’s now Fire at Will [9]. Maybe the mood is now one of anger and aggression [10] looking for a target, though the obvious target are entrenched politicians in their natural environment [11].
Article printed from Belmont Club: http://pajamasmedia.com/richardfernandez
URL to article: http://pajamasmedia.com/richardfernandez/2008/10/07/attack-at-dawn/
URLs in this post:
[1] Richard Fuld: http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3150319/Richard-Fuld-punched-in-face-in-Lehman-Brothers-gym.html
[2] Jim Cramer: http://www.newsday.com/business/ny-licram0712038380oct07,0,4828808.story
[3] Telegraph: http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3141428/Germany-takes-hot-seat-as-Europe-falls-into-the-abyss.html
[4] Obama and Ayers: http://www.gop.com/News/NewsRead.aspx?Guid=768aa784-72f3-4b43-acb6-c5fe81d901cd
[5] Obama and the Slum Landlords: http://www.gop.com/News/NewsRead.aspx?Guid=c1b8f383-5807-4ee6-80eb-58d015dd5270
[6] A Facebook-style friends list of Obama and just about every low-lifer imaginable: http://www.barackbook.com/
[7] Obama and HUD: http://www.gop.com/News/NewsRead.aspx?Guid=872b3f25-9dbf-499f-b284-d4c86eb5e14a
[8] More Obama lowlife friends: http://www.gop.com/News/NewsRead.aspx?Guid=865b46c6-df2a-464e-812e-4f44e876d1e3
[9] Fire at Will: http://pajamasmedia.com/richardfernandez/2008/10/05/fire-at-will/
[10] anger and aggression: http://www.youtube.com/watch?v=40t6ys8pgNo
[11] natural environment: http://www.youtube.com/watch?v=Vt6xGqk0F0U
[12] Tip Jar: http://wretchard.com/tipjar.html
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