Everything’s Fiiiiiiiine…

GM confirms massive losses to the tune of $39 billion.  That’s “b” as in boy.

Oil set to break $100/barrel marker (at $98.62 for the next few hours)

Dollar at record low

Things are obviously not fine but the papers would seemingly have us view every new bit of financial disaster news with little trepidation.  As if it’s all just temporary turbulence.  Nothing to worry about.  The financial gurus seem to be trying to convince themselves, and us, that the dollar does not have a bottom.  That the world will want tons of it no matter how low it sinks.  The domestic solution is to lower the Fed rate and print, print, print the paper of declining, declining value.  The world will always want it.  It looks so pretty.

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