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September 23, 2008
It Was An Iceberg

It may be a gross oversimplication, but at least this talks about the current financial crisis in terms we can all understand. Basically, people wanted more safe places to invest their money than existed. So a complicated system of issuing, packaging, and "insuring" high-risk loans was created. These looked safe, but weren't. The pile reached critical mass and is starting to melt down. (Thanks to Ahistoricality for pointing me to the article.)

Those little bumps in the economy that George Bush, in his short-sighted ignorance, has been telling us to spend our way out of? That sloppy mess on the floor of Wall Street? This Administration's burning desire to spend every dollar it can beg, borrow, or steal on killing people overseas?

Turns out, we should have looked under the water. There was an iceberg, with the D-word attached to it, lurking just out of sight. Not many people have the courage to say it, but we've been "led" perilously close to the D-word, and we're not out of the woods yet. I guess we should all stop to pay tribute to The Good Life. It may be over.

Posted by AnneZook at 10:06 AM


Comments

On an unrelated note, I've added you back to my blogroll. I thought you had stopped blogging for a while.

Posted by: Lab Kat at September 23, 2008 01:20 PM

Feel free to be unrelated. :) I don't know that I'm "back" blogging for good, but it's nice to be remembered!

I gave it up because I was burned out--tired and discouraged and convinced that the world o'blog is an echo chamber where we're all preaching to the choir. I don't know that I've changed my mind about that, but the fascinating weirdness of this campaign sucked me back in. :)

Posted by: Anne at September 24, 2008 08:39 AM