Then I saw this and realized, "That explains everything!"
What it does is to push the bad stuff further down the road, making the inevitable collapse that much worse. Germany's move here has ensured that the PIGS will suck more money out of Europe before everything hits the crapper, and it'll further ensure that when it does head crapper-ways it'll do so at about Mach Nine.
The financial sector is thrilled, of course, because it means that European banks can now engage in "mark-to-fantasy" the way US banks are.
Karl Denninger gives the lie to it.
BTW, that big complex budget deal last month, the one in which the Republicans pretended they were cutting spending and gave Obama his debt ceiling hike?
...we've got $45 billion left in that debt ceiling. After a month.
* * *
Let's keep the economic doomsaying going!
DOOM! Run, mortals! Flee while you can!
We now have the highest percentage of working-age poor since the 1960s.
Don't expect to get a job as a holiday temp hire, either, because the stores aren't expecting this to be a very good season.
On the one hand I'm relieved that the big economic catastrophe didn't happen this week. On the other, I know that it's coming regardless, and that the longer it takes to get here the worse it'll be.
All it's going to take is one push and all the dominoes will fall. It's kind of nerve-wracking.
* * *
The State of Illinois is starting the layoffs! The state workers' union is going to sue, of course.
...I flatly do not understand how this is possible. After all, Quinn just got a huge tax increase! Why isn't there enough money to pay the bills when Quinn got his gigantic tax increase?
Do you suppose it has anything to do with the inevitable consequences of higher taxes? Nahh! It can't be that! It was just a bookkeeping slip-up! Right??
* * *
More on AGW/CC being over from AoSHQ.
* * *
Having had a panic attack last night, I took a Xanax and fell asleep...and--for a wonder!--actually slept well.
I mean, I got about eight hours of refreshing, uninterrupted sleep. The cats didn't bother me, the phone didn't ring, the Rapture didn't happen--I was actually able to sleep for eight hours without waking up.
That's rare enough these days that besides the usual post-Xanax zombiefication I'm also feeling kind of logy.
* * *
More and more I am starting to think that it'd be a good idea to upgrade this system to Win 7.
Win 7 is 64-bit, but it can still run 32-bit software (in compatibility mode), so I wouldn't have to go out and buy all-new versions of everything.
WTF. I routinely use five programs these days: Firefox, Windows Mail, Word 2000, CutePDF Writer, and WoW. That's it. (Sometimes I use CD/DVD burning software.) All of this is either freeware, comes with Windows 7, or has a freeware alternative which is just as good as what I'm using now.
Win 7 is supposed to be more stable and faster than Vista, and all around a better OS...and as a bonus I'd be able to max this system's RAM and actually be able to use all of it to boot, which--theoretically--ought to mean a bit of a performance improvement.
Something to think about, anyway.