aftermath

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Archive for October 8th, 2008

Stretching To That 7th Inning

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Almost a year ago, only months after the sub-prime mortgage mess broke surface, I scorned the many analysts brought onto business TV and into business press for seeing the early bank write-offs as bringing us to the “7th inning” of the credit crisis, for thinking we had turned the corner.

“We won’t even come close to the 7th inning of all of this until we’ve heard from the municipal bond side of credit, until we see some states and cities and local governments turning belly up,” I predicted back then. And have reiterated since then, through last week when I wondered aloud how many multiples of the bank bailout price tag would be needed once public entities began lining up for their own share of “rescue” bounty.

Add foreign governments to that expectation. When banks start writing off or trying to renegotiate the severe overhang of bad government debt, that will be when we might finally see the full extent this global shakedown might have to go before we turn any corners.

So now maybe we can finally call this our 6th inning, with even that being an inning where it seems that nothing the Fed or Treasury Department can pitch seems able to get that final out. And if this past week has seemed an ugly streak of at-bats, it ain’t nothing compared to how that 7th inning is going to go down once all the municipalities top to bottom have stepped up to the plate. And the way this is shaping up, we’ll likely stretch this into extra innings.

bumper sticker [www.internetbumperstickers.com] - calls & puts

Written by macheide

8 October 2008 at 11:47 am

Posted in calls & puts

Tale Telling

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(Got your copy of the new Bob Dylan CD yet?) Love it!

text message from marjorie (10/7 7:22pm)

No, although I usually watch closely enough to be making a visit to my local Barnes & Noble the day any new Dylan hits the street, this time I was blithely clueless. Except for those alarms my dreams kept setting off, like the recent one that included a huge poster with intricate staircases illustrating the lyrics of the songs, only one of several dozen dreams I’ve had of Dylan and a new Dylan CD over the past 6-8 weeks.

Even after Marjorie’s text message yesterday, I still didn’t get around to visiting bobdylan.com for the details; yet my dreaming last night was more insistent than ever. All plot or other conversation was the vaguest background to thick, intense dreaming of listening to the new Dylan CD. No matter how many times I woke to restart my dreaming, it always came back to that, back to exclusively that.

And even more insistent, every other person in my dreaming – several dozen distinct friends over the course of the night – were all listening to the new Dylan CD. And like has been the case the past several months in my own dreaming, each person’s CD was their own dream’s version of the new CD.

Bumper Sticker [www.internetbumperstickers.com/] - oneirra

Written by macheide

8 October 2008 at 4:04 am

Posted in oneirra

Shoo

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10/8/2008

What is your shoe size?

meme from susan

A

Just enough to fit over my feet.

My father used to sell shoes. My younger brother too. They would both confirm that’s the size shoe I ought wear. Enough said.

bumper sticker [www.internetbumperstickers.com] - not me

Written by macheide

8 October 2008 at 1:01 am

Posted in not meme