The Analytic Atavar

Idiosyncratic Musings of a Retrograde Technophile

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Location: Chandler, Arizona, United States

Wednesday, February 11, 2009

Quote of the Day

Geithner's Cash For Trash, Why no honest write-downs for bad debt?,, Susan Lee.

He came. He spoke. The market tanked. He went. The market tanked some more. Such is the power of Treasury Secretary Geithner.
To summarize:
  1. We need to ignore Sec. Geithner's tax violations because he is uniquely qualified to manage the economy,
  2. The One™, in his Monday press conference, announces that the saintly Geithner will detail the administration's solution for the banking/credit crisis,
  3. The details are: we need to spend an additional $1-2 Trillion, amount otherwise undetermined, in unspecified ways.
There is a perverse curiosity in watching a train wreck, which you know is going to occur, as it unfolds before your eyes. As the liberals continue to believe the primitive logical fallacy of "word power", i.e. that simply saying the proper words with good intentions will magically transform reality, their incoherent policies would be comic if the inevitable outcome were not so tragic. But, of course, we were assured that such a magical transformation would occur with the inauguration of The One™.



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