Belmont Club

By Richard Fernandez

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Attack at dawn

October 7, 2008 - 3:01 am - by Richard Fernandez
sigintel
2008-10-07 15:32:06

CFIT…controlled flight into terrain. The government agencies, congress, Clinton and Bush plus the armies of lawyers and lobbyists who populate K Street have successfully flown a working Republic with the worlds most powerful economic engine into a mountain while reading the instruments and holding the controls. We now will have to rely on State and local government to effectuate governance based on trust. Somebody once said that “all politics is local” Wall Street and Washington have lost the people trust and we the people deserve what we get…we put them in office, we loved the mortgage interest deductions, the business incentives (buy a Hummer and get a $50,000 tax deduction). Will the Republic that we love fail? Perhaps. Economically, the situation will stabilize only when the government lets the market bleed and the bad businesses fail…its Darwinian now folks, and the strongest will survive and the weak enslaved.