I'm taking an afternoon off from the day job (no Tribune on Thanksgiving) to relax a bit and do some prep work for an upcoming specialty publication for the local Kiwanis. I had just plopped into my $7 Salvation Army Lazy Boy when MSNBC reported that Bailout Fever will cost us $8.5 trillion by the inauguration on Jan. 20. That means the Treasury will dispense will trying to sell worthless notes and just print the money.
This is a bust out, my friends, and we are fucked. The Bushies have given up on trying to handle this situation and have opted for getting themselves and their buddies out as unscathed as possible. Obama is going to inherit Carter-era inflation rates, which will force him to force the Fed to raise interest rates to, well, Carter-era levels.
What's a bust out, you ask? Remember the film Goodfellas? Ray Liotta and Joe Pesci take over the tiki lounge, run up the owner's bills and steal inventory, then burn the place down for the insurance money. That's a bust out.
Our financial system will be a used up, dried out Maxi Pad by next spring. Obama will have to start from scratch and millions will suffer for years -- at least until 2012.
Hmmm...what happens again in 2012?