Investors, who ought to be wary of such fiscal recklessness, were instead caught up in manias of their own. Remember 2009, when everyone swore we’d never let our markets get drunk on consumer debt and sketchy assets again? According to the Federal Reserve Bank of New York, household debt has passed the pre-recession record of nearly $13 trillion — and that’s before what’s shaping up to be a holiday spending binge. Meanwhile, imaginary money known as bitcoin has been selling for $12,000 per . . . per what? Per unit of imaginary money, backed solely by the full faith and credit of other bitcoin believers. bitcoin is up nearly 1,000 percent this year. It’s the Dutch tulip craze, except that in Holland investors at least ended up with some bulbs when the bubble burst. When the bottom drops out of bitcoin, today’s giddy buyers might as well have a wallet full of Monopoly money.
Not unexpectedly reports surfaced yesterday that Michael Flynn may be getting ready to cooperate with Mueller. If so Dotard likely will not be too much longer for the Oval Office. What a day of celebration when this cretin leaves the White House!!!
Sure it’s Thanksgiving and we are somewhat all obliged to count our blessings. All the usual platitudes apply. However, for my part how in the world can I be thankful when Dump is president and likely will be for some time to come. Will he eventually start the nuclear that seems to be his fondest wish? What outrages will be forthcoming for the environment, race relations, or just about anything that approaches decent thinking? So sorry folks I cannot be very thankful this year. The country is going to hell.