The U.S. economy continues its long decline. The super-massive world-historic stimuli issued by Congress and federal reserve flooded the world with cash but failed to return growth or even significant deleveraging as U.S. firms and consumers still hold high levels of debt. So what is Ben Bernanke’s new solution?—why, more stimulus, of course!—I mean, that’s what I would do, wouldn’t you?
Caption: More cowbell! Read More »
[...] “The U.S. government will move aside BP from the operation to try to halt the Gulf of Mexico oil spill if it decides the company is not performing as required in its response to the well leak, U.S. Interior Secretary Ken Salazar said on Sunday,” writes Chris Baltimore of Reuters.
Question: If the U.S. government has at hand the technical-operational competence to seal the oil hemorrhage and save the Gulf of Mexico and its coasts and wetlands, then why have they not applied it yet?
What could they possibly be waiting for? And what kind of lame threat is this anyway? I would imagine that the engineers and technicians of BP would like nothing more than to be relieved of the impossible task of trying to cork an underwater sludge-gusher. Yes, please, push me aside.
This is a sad and tragic farce.