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PAULSON AT THE HELM OF THE TITANTIC, AND NOT ENOUGH LIFEBOATS
"Folks, this is your Captain, everything is okay, don't panic.
Everyone put on your life jackets, and in an orderly fashion head towards the lifeboats.
We'll start at first class first, and then proceed to the lower levels next, that's all folks".
Off mic "damn we haven't enough lifeboats, but at least there will be enough for the first class folks. But you stewards keep this to yourselves, the last thing we need is a panic. Hurry up and get the boats off of the side of the sinking ship, before the rest of the passengers, figure out we don't have enough lifeboats.
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Draft Paul Krugman Now for Treasury Secretary!
November 12, 2008 12:18 PM | Reply | Permalink
Resistance, sometimes I think your postings are a little shaggy, but this is spot on.
This crisis is percolating away in the living rooms of folks with bubble mortgages, in the living rooms of the folks who live near them, and in the living rooms of people whose neighborhoods haven't been hit too hard by the foreclosure crisis yet but folks can see it coming. (Using the Titanic metaphor: it's in the bilge, stupid!)
And the guys in charge can't see it or fix it because a) they don't know where to look and b) they are so arrogant and elitist that they think that fixing the problem where it lies would be socialism.
Government of the people, by the people, for some of the people has reached its logical limit and these guys can't see it.
November 12, 2008 2:01 PM | Reply | Permalink
erica wrote "And the guys in charge can't see it or fix it because"
They see it alright, and they know not everyone is going to make it, so it's every man for himself.
About the Titantic
http://en.wikipedia.org/wiki/RMS_Titanic
a total of 2,222 people, only 705 survived; 1,517 perished.[25] The majority of deaths were caused by hypothermia in the −2 °C (28 °F) water. Men and members of the lower classes were less liable to survive. Nearly all women and children were saved in first and second class. 92 percent of the men perished in second class. Third class passengers fared very badly.
All children were saved in first and second class, whereas only a 34 percent were saved in third class. Nearly every first-class woman survived, compared with 86 percent of those in second class and less than half of those in third class. Over all, only 20 percent of the men survived. First-class men were four times as likely to survive as second-class men, and twice as likely to survive as third-class men. [
November 12, 2008 6:49 PM | Reply | Permalink
I am trying to view my latest comments and they are not showing up
November 13, 2008 8:38 PM | Reply | Permalink
another test
November 14, 2008 4:45 AM | Reply | Permalink