THE BEN AND HENRY ACT II
Today's news ain't much better--Bernanke and Paulson, the Ben and Henry roadshow, again projected more worsening scenarios with extant woes enduring indefinitely for the problematic Housing sector-- Another building gauge, the US Architects index, pegged in at a fifteen month low adding to the surrounding gloom while Houston reported that it, indeed, did have a problem as slumping home sales continued to spread-- US housing starts plunged to a low not seen since 1993 while consumer prices took a bigger bite out of the anorexic dollars or the extended lines of credit they now bring home from the workplace in lieu of real wages--
Crude oil knocked on the door of $89/barrel before slightly backtracking but overconfidence did not greet T Boone Pickens' prediction of a 'dicey' fourth quarter with oil benchmarks topping the old $100 per....-- Basic supply running roughly 3 million barrels/day shy of perpetually rising world demand-- Home heating oil taps a record high and stunted auto production wears its slumpy coveralls-- On the way down coasters pick up speed--
Desire satisfied only increases the voracity of appetite as the world continues in almost unremarkable fashion to devour its seed corn-- Quaffing the lifeblood of the 'system' as if 400 afternoon colas would not count as calories and would certainly never be missed from the company's pantry-- The Self-Reliance once embedded in the American character appears to belong to a lost order or a vanished epoch-- The automobile drives us acquiescently ever onward to a fate the parameters of which no inkling, as of yet, ignites a cogent response of collective will-- The gears begin to grind--
Certainly China and Japan have not yet lost the will to act as they pulled the plug on the most US debt in five years-- The lipstick adorned US Treasuries no longer entice Asian financiers with the fanaticism that once mirrored the frenetic lust for Cabbage Patch Dolls found in overweight moms roller-derby-ing each other over the rails in big-box toy stores for a chance at the X-mas big-time-- Debt driven Christmas Smiles aside for the time being and maybe even the entire season as sovereign wealth funds seek higher returns beyond the US Treasuries' anemic dollar-- It is as if the US isn't as major a player in the game as he once thought-- Our Go pieces are already surrounded by self-inflicted debt riddled hubris everyone else is glaringly aware of except us--Spectators are leaving through the side gates and the back door when the fourth quarter has barely begun--
Meanwhile Mr Bush, foxier than a blind fox or a lame one, invites the Dalai Lama into the Oval Office to buff his bona fides and kiss his ring which infuriates our Chinese creditors who do have way more clout than his fuming clueless demie opposition whose ineptitude invites such erratic Bush eccentricity and dereliction without the substance or power to ever hold his feet to the fire of accountability-- Tweaking our creditors at such a financially perilous moment is irresponsible at best from a spoiled frat-boy never tasked by life to clean up his own mess-- The beat goes on
Crude oil knocked on the door of $89/barrel before slightly backtracking but overconfidence did not greet T Boone Pickens' prediction of a 'dicey' fourth quarter with oil benchmarks topping the old $100 per....-- Basic supply running roughly 3 million barrels/day shy of perpetually rising world demand-- Home heating oil taps a record high and stunted auto production wears its slumpy coveralls-- On the way down coasters pick up speed--
Desire satisfied only increases the voracity of appetite as the world continues in almost unremarkable fashion to devour its seed corn-- Quaffing the lifeblood of the 'system' as if 400 afternoon colas would not count as calories and would certainly never be missed from the company's pantry-- The Self-Reliance once embedded in the American character appears to belong to a lost order or a vanished epoch-- The automobile drives us acquiescently ever onward to a fate the parameters of which no inkling, as of yet, ignites a cogent response of collective will-- The gears begin to grind--
Certainly China and Japan have not yet lost the will to act as they pulled the plug on the most US debt in five years-- The lipstick adorned US Treasuries no longer entice Asian financiers with the fanaticism that once mirrored the frenetic lust for Cabbage Patch Dolls found in overweight moms roller-derby-ing each other over the rails in big-box toy stores for a chance at the X-mas big-time-- Debt driven Christmas Smiles aside for the time being and maybe even the entire season as sovereign wealth funds seek higher returns beyond the US Treasuries' anemic dollar-- It is as if the US isn't as major a player in the game as he once thought-- Our Go pieces are already surrounded by self-inflicted debt riddled hubris everyone else is glaringly aware of except us--Spectators are leaving through the side gates and the back door when the fourth quarter has barely begun--
Meanwhile Mr Bush, foxier than a blind fox or a lame one, invites the Dalai Lama into the Oval Office to buff his bona fides and kiss his ring which infuriates our Chinese creditors who do have way more clout than his fuming clueless demie opposition whose ineptitude invites such erratic Bush eccentricity and dereliction without the substance or power to ever hold his feet to the fire of accountability-- Tweaking our creditors at such a financially perilous moment is irresponsible at best from a spoiled frat-boy never tasked by life to clean up his own mess-- The beat goes on
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posted by William Clark at 4:31 PM
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