Thursday, September 22, 2011

To hell in a hand basket

Peter Oborne and Frances Weaver show that the Eurosceptics were flat out right:
Very rarely in political history has any faction or movement enjoyed such a complete and crushing victory as the Conservative Eurosceptics. The field is theirs. They were not merely right about the single currency, the greatest economic issue of our age — they were right for the right reasons. They foresaw with lucid, prophetic accuracy exactly how and why the euro would bring with it financial devastation and social collapse.
Meanwhile, at 3:29 pm this afternoon, Drudge had up the headline, “Global Meltdown: Investors Dumping Everything”, with a link to this article at CNBC’s web site, which reports that, well, investors really are dumping everything: stocks are down, gold and silver are having a sell-off, everybody’s trying to get into cash and U.S. Treasuries (the latter represent the equivalent of the high ground during the Deluge, I suppose, a momentary refuge before everybody who’s not on the Ark finally slips beneath the rising water; only, this time, I’m not sure there is an Ark).

2 comments:

richard mcenroe said...

There was an ark, and it was funded by the SBA, certified by the Bureau of Shipping,licensed by the Federal Trade Commission, okayed for livestock transportation by the FDA and Interior jointly, approved by the Interstate Commerce Commission, and registered with the Coast Guard... but the porthole covers were not up to UV protection standards so it was downchecked by the EPA. Sorry.

Paco said...

Dang! That red tape, again!