Tuesday, April 28, 2009

It Ain't Over 'Til the Fat Lady Gets a Job

UPDATE: The fat lady still ain't got a job, and her prospects ain't good. Read The New York Times, G.M.’s Latest Plan Envisions a Much Smaller Automaker and Workers Walk the Plank. The later article notes that "[w]hile Wall Street is breaking out the Champagne, the rest of the economy is beyond terrible, and will be for the foreseeable future."

You can thank those Republi-cons and their war on the middle class.

Are happy days here again? Is the economic mess behind us?

There is an old saying, it ain't over 'til the fat lady sings, which means that one shouldn't assume the outcome of some event until it has actually finished.

(FYI: The phrase refers to the final scene of German composer Richard Wagner's opera Der Ring des Nibelungen, aka the Ring cycle, a full performance of which could take place over four nights with a total playing time of 15 hours, in which a heavy-set woman dressed like a valkyrie (Brünnhilde) rides into the funeral pyre of her lover (Siegfried), while singing of course because it is an opera, as the the set collapses and the entire cycle ends up in the Rhine river, where it started.)

Read The New York Times, As Stocks Surge, Fears Linger About the Economy.

After the looting and robbery of the treasury of trillions of dollars, the government has succeeded in propping up the stock market. But the stock market decline wasn't the problem, it was just a symptom.

The real event was an economic downturn, which was caused by massive fraud on Wall Street that was facilitated by deregulation and lack of government oversight, all part of a larger Republi-con decades-long war on the middle class, but that is a subject for another post.

Bottomline, the trillions were a mere band aid to hide the gaping wounds of the economic downturn. And my bet is, it ain't over.

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