Call the economy

Choose wisely, young padawan!


I bet there’s a poll a-comin’.

Call the economy what?

What if i don’t want to take the economy on a date, mom?

It will bottom soon, swing upwards until next year’s budget fight, then crash again. 9000.

Does the economy check its voice mail?

The economy doesn’t live here anymore.

You just call that nice young lady already, young man. I already told her mother that you would.

And take off that dreadful Van Halen t-shirt. I don’t know why you insist on wearing shirts with holes in them. Your father and I work hard to buy you nice clothes and it just breaks my heart that you won’t even wear them.

That is a hell of a poll.

No Sleep Now in the Fire choice either?

We’re boned without a new stimulus, and this time a more substantial one. A Social Security tax holiday on the first 60K of income, for both employees and employers, for at least 1.5 years, would do wonders.

I picked “double dip”.

Voted double-dip recession but I prefer “slump,” like the British economic trajectory in the Depression.

Everyone talked a bit in 2008-9 about the “upside-down square root symbol” slump as a possibility, but the truth is it was a likelihood all along given the short term nature of stimulus and the long term nature of the economic de-leveraging problems, stacked up with the actual economic/financial crises. After this massive new austerity I’d be very surprised if there were any other result.

Unless the results area so catastrophic they stimulate a left wing reaction. Haha, but no.

Who the fuck cares about the stock market?

… People with money in it? I don’t want to jump to the obvious answer, but we’ll start there I guess.

I voted for the “no bottom in sight” option because I really want to get started building my Thunderdome.

Really? The whole reason we have 9% unemployment is the 2008 crash and recession. Modern economies are not logical things, and if Goldman Sachs decides not to invest in date farms in Sri Lanka, and a year later Sri Lanka’s economy collapses, and then India is hit, and then east asia, and suddenly you have unemployed workers at Ford scratching their heads wondering WTF just happened… well, i don’t know either, but i do know it’s a shell game that relies upon everyone agreeing to play. So much of the market is completely arbitrary and under the almost autocratic control of governments and financiers, people forget that it’s not just widgets in vs. widgets out. What the interest rates is may be tempered by rational economic logic, but at the end of the day, we borrow at 1% instead of 20% because the head chief declares this to be so, at their whim. When the number of financial instruments vastly outstrip the paper value of the planet, you can’t stop playing musical chairs, because instead of being the guy without a seat, you fall down… off the chair, off the platform, plummeting 10,000 feet into the precipices below, taking everyone with you.

X – Shit, boners.

Seriously though, no clue. I was hoping for “not much effect at all,” and I was way wrong.

I sympathize with what Aaron’s saying, both in terms of the delinkage of stock market recoveries from actual human ones, and in terms of the sheer infuriating absurdity of economic crises in which “Nothing’s caught fire, or exploded, or sunk or anything.” But just because you can have a stock rally without a recovery doesn’t mean you can have a recovery without a stock rally.