Category Archives: Fear Itself

October 12, 2008, 1:30 pm

And A Special Little F***k You From Citibank: the Radical Comments on the Current Economic Crisis

One of my responses to the financial meltdown was to cancel a bunch of credit cards. How did I acquire all these credit cards in the first place? Well, in several ways, but most of all because they were offered to me by banks at low (or no) interest. They were offered to me as great opportunities, full of flattering language about how my credit history had caused me to be selected as a Particularly Prestigious Customer. In fact, I was getting them because we sold a house, bought a house, paid off a mortgage, acquired a new (relatively modest) primary mortgage, added a small construction loan, and made our payments punctually. In other words, because financial institutions share so much information, it was clear that the Radical family was spending hundreds of thousands of dollars in the space of about sixteen months. And much as I would like to imagine myself as Particularly…

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September 16, 2008, 11:45 am

As Wall Street Tumbles, Herbert Hoover — er, John McCain — Claims That “The Fundamentals Of The Economy Are Still Strong.”

Well, thank you Mary Sunshine.

Seriously folks, the economy hasn’t been sound for a long time, making it even more bizarre that John McCain made this claim yesterday, shortly after Lehman Brothers went down the tube. Even if — as at least one source correctly asserts — this phrase was part of a longer speech that acknowledges the current situation as worrisome, how can McCain float this fantasy when economists of all political persuasions are asserting that the economy has not hit bottom yet? That the worst may be yet to come? (Even the Radical, who does not pray often, is praying for you, AIG. And for you, WaMu.) Click here for video posted by CBS News that shows Obama finally getting aggressive; click here for video posted by FP Passport, a web log published by the journal Foreign Policy, that shows a longer clip from the McCain speech than I have quoted above.

The Radical keeps …

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