Newsrage
September was a bad month for my blood pressure. Every time I looked at the political or economic news, my rage boiled over again.
I’ve been meaning to blog about it for a couple of weeks now, but every time I tried, it turned into a fifteen page rant. So I’ll try to summarize:
1) Why was I so happy when the Democrats won Congress last year? Not only are we still in Iraq, but the number of troops has INCREASED, and it now seem likely that Cheney will start bombing Iran.
I know, I know. The Democrats only have a slim majority, and the Republicans are on a pace to TRIPLE the all-time record for filibusters, so there’s a limit to their effectiveness. But that doesn’t explain why half the Democrats voted to betray their own supporters and condemn MoveOn over a fucking newspaper ad.
Never mind that the ad was right and Gen. Petraeus willingly became a political operative and spouted the (false) party line that everything is peachy in Iraq. (Keith Olbermann has something to say about that.) Habeas corpus gets filibustered out of existence, yet THIS gets passed?
No wonder the Democratically-controlled Congress is twice as popular with Republicans as Democrats.
2) So the fed rate was low for such a long time that it — combined with lax lending standards — caused a housing bubble that’s now collapsing and dragging the economy down with it. Bernanke’s solution? Lower the fed rate again!
Pay no attention to the resulting collapse of the dollar — Wall Street needs a short-term boost! Puff up that bubble just a little more!
I’m not just angry about Helicopter Ben’s decision on a macro-economic level. This affects my personal finances, too. My online savings accounts just dropped their rates by half a percentage point, which will cost me a couple hundred dollars this year. And the devalued dollar means my printing bill at Canadian-based Transcontinental will be that much higher.
That cost will be passed along in a higher cover price for the new Narbonic. That’s called “inflation,” kiddies.
Ah well. At least my gold will retain its value. I just wish I’d bought more of it a couple of years ago.
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