Time to panic, indeed
On my daily feed round I came across this, from The Atlantic: Time to panic about federal debt limit.
It starts comparing american economy to an airplane with engine problems
just barely maintaining altitude above the tree line. Although the plane is holding its own, if almost anything else goes wrong, it will crash.
And then ends with demands of more “stimulus”. Well, american economy (and we should include most of european contries, specially greek, portuguese and, oh yeah, spanish) are like an airplane… not with engine, but with FUEL problems.
Flying in circles only does one thing: it keeps spending fuel. Being aware that fuel quantity is always limited (btw, are not the same people warning us about peak oil?), the pilots should stop wandering and start looking for a piece of land to bring the plane down and get everyone (The People) out the plane safely.
If pilots keep rounding and rounding, demanding increase the debt ceiling (aka asking for a refill), the only thing that could will happen will be that the plane WILL spend all the fuel, and it will crash, and there will be casualties.
No more stimulus, no more bailouts, no more bullshit.
