The Times They Are a Changin’

The $700 billion bailout of financial institutions is somewhat akin to aggressive care given to a terminal cancer patient: You can make his life a bit more comfortable for a time, perhaps even induce a rally, but the patient is still going to die of his disease. It’s going to cost a fortune. Still, you’re giving him a little distance from the inevitable; time during which he and his family and friends can begin to come to terms with the dire future.

Hopefully we’ll be using this next short period, bought at tremendous expense, to prepare for the inescapable collapse of the fundamental financial structure of the U.S., possibly the world.

The times they are a changin’. Indeed.

c.

[photo from AP]