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The more things change…

economists in days of yore

I have no fucking idea how deep a hole we’re in or how to fix it (which means that one blogger who is being totally honest with you today is a weasel).

I do know this: the regular capitalist cycles of boom and bust correspond — not coincidentally — with each new generation of wet-behind-the-ears smarty-pantses in the financial sector. “The market is going up! We’re geniuses! And it’s going to last forever!

And then they all get hit by a bus and die. Metaphorically speaking, of course.

The UK Labour Party actually declared — more than once — that they had vanquished the market cycle, and there would be no more boom and bust. No shit. Uncle B always tells me that story when I’m in a god American are politicians morons sort of funk. And then we laugh and laugh.

Me, I’m an optimist. I think the American economy is still incredibly resiliant, despite everything, and will rebound (relatively) quickly. Uncle B is a pessimist, and is less sure of that. I’m just posting this so that, a year from now, one of us can point at the other and laugh rudely.

I understand really successful relationships are based on this kind of give and take.

Did y’all see this on The Corner? Not a joke. This was Washington Mutual’s very last press release before it sank beneath the waves:

WaMu Recognized as Top Diverse Employer—Again

Company ranks in top ten of Hispanic Business’ Diversity Elite and earns perfect score on the Human Rights Campaign’s Corporate Equality Index


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September 26, 2008 — 10:30 am
Comments: 20