Thursday, July 31, 2008
A small prize for the best alternative headline for this article
Our financial system is dead. Right now, Bernanke and Paulson and Congress and the rest of the power elite have the shock paddles frantically pressed to the chest of the American financial system, hitting the erratic heart of our Debt Empire with shock after shock, hoping and praying the debt bubble of the past 25 years can somehow be extended. Alas, the patient is already dead. But with reporters' noses pressed against the window a few feet away, the stalwart crew around the corpse is making a heroic show of lying: "The patient is stabilizing," "the patient is recovering nicely," and so on, and by artificially stimulating the heart to keep producing a weak but visible pulse for all to see.