Swing And A Miss

I like Obama. I think he's a vast improvement over Bush and McCain. I do not however think he's going to be able to fix the economy. I think we're going to crater over the next two years, and be mired in a long, multi-year recovery. Granted, that recovery might be generational under McCain instead of a decade, but it's still going to be bad.

It's going to define my generation and the next for the rest of our lives. Those of us old enough to remember the boom times of the Clinton years will have some nice stories to tell our kids.

Having said that, Obama's complaint about $18 billion in Wall Street bonuses being "outrageous" rings pretty damn hollow when economists are predicting Obama will have to lay out a staggering $4 trillion to rescue the banks.

Sorry Barack. That's a Bush-league mistake right there. That statement is going to come back and kick his ass, and deservedly so.

[UPDATE] What dday said.

There's minor value in angry missives about bonuses, but there's major value in, uh, four trillion dollars. Especially when the more elegant solution is to take over the insolvent banks and stiff the shareholders. But such things are forbidden hippie-talk.