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« Jolt to Holder | Main | Ah, the Arab Spring... »

Wednesday, 30 November 2011


It is not going to last.
Mannie Sherberg
Betcha that disapproval rating goes down still further -- once the European debt crisis blows up. Today's news about the Fed and the European central banks flooding the Eurozone with funny money is only a delaying tactic -- designed to put off the inevitable day of reckoning (and maybe save the election for Obama?). Despite the boomlet in today's stock market numbers, the truth is that the "money" the central banks are talking about doesn't exist; it will have to be printed. That will mean more inflation for the American consumer -- and that will take a bigger bite out of Obama's approval rating. If Obama, Bernanke, and Geithner were as smart as advertised, they'd have stayed away from this deal, let Germany deal with it, and -- in the end -- if the Germans refuse, allow Greece and even Italy to fail. What is it about the word "inevitable" that these guys cannot undertand? They're playing a very dangerous game -- which they can only prolong but cannot win -- and, when the bubble finally pops, we are all going to pay very dearly for their stupidity. It's becoming clearer by the day that Obama is headed for a loss.

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