Unraveling:Things are coming apart before our eyes
by Fred Cederholm
Mon, 27 Sep 2010
I’ve been thinking about unraveling. Actually I’ve been thinking about the Obama administration, unemployment, housing, Afghanistan, our economic/ financial messes, the coming November elections, October surprises, and sand. Sunday I was gone all day. I went to church, I stayed for Sunday school, I went out to eat, and I attended a memorial service for a long time friend, Bud Elkin. I thought I looked pretty good in my khaki slacks, a white knit golf shirt, and my burgundy colored sweater over the top. I needed the sweater because it was cool – Fall was rapidly descending on us here. What I didn’t realize was that I had snagged the sweater around the side of the waist band. One thread of the wool yarn had apparently broken and as the day progressed, I was coming apart at the seams – literally! The progression of the unraveling was brought to my attention by numerous people during the day. Each time I thanked them for the information, but I kept TH*NK*NG why was the public not so astute at assessing the unraveling of the Obama Administration, and the US economic situation.
You see we have officially been in a recession (make that a depression) since the last quarter of 2007. Now we are being informed that the “economic dislocation” (What a lovely – and innocuous – way to describe our mess, don’t you TH*NK?) had ended July of 2009, well over a year ago. The Federal Government and the Federal Reserve Bank had sewn a few TRILLION here and there into the major money center banks, the investment banks, Fannie Mae and Freddie Mac, the US insurance giant AIG, and the US automakers. Not much – as in nothing – had been divided out to main street America – nothing except increasing the time to draw unemployment to 99 weeks! We have been, and are being inundated, with numbers, graphs, and stats that support their claimed recovery. Do you feel this first downturn of the 21st century is behind us? I sure don’t. Please read on.