I’m all right, Jack.
Bernanke really pissed a lot of people off. This alone makes me feel like he may be smarter than I’m giving him credit for.
But this was the most gratifying piece of news out of the pipe this morning.
“…just 5 percent…”
Heckofa job, teabaggers.
Meanwhile, Sullivan has a predictable hard-on for Simpson-Bowles. I enjoy the hell out of the Dish because of Andrew’s near-slavish devotion to rational conservativism. And Simpson-Bowles, in fairness, knocks Paul Ryan’s “roadmap’s” dick in the dirt as far as being a “serious” proposal goes. As a policy proposal, it’s attractiveness is directly proportional to how grim and ugly it is.
It also, unequivocally, must fail.
This isn’t a left-right issue, it’s about the need to think and plan in the long term. The tax structure outlined in the proposal is the elephant in the room; it pushes the burden squarely onto the middle-class. Forget every other argument that’s being made in defense of or opposition to the idea so far — this comes back to the notion of “too big to fail” and what happens when wealth becomes too consolidated.
You can’t have democracies and private enterprises with equal or greater power. That’s how the recession happened in the first place. The banks didn’t just hold us hostage; they held the entire global economy hostage.
Dumping the bread and circuses doesn’t get you more money. It gets you eaten.