Dear George,
The doom and gloom lobby is having a real hootenanny over what it perceives as the eminent collapse of our economy. They are throwing numbers all over the place. They tell us the carry trade is tanking because the 10:1 leverage factor is leaving traders exposed as the dollar drops in value; securitized subprime mortgages are expected to hit $400 billion assuming the estimates are accurate which they probably are not; $350 billion of collateralized debt obligations may go sour as credit ratings tank, leaving many banks under capitalized because nobody in their right mind would buy one.
Forget the numbers, George; they have nothing to do with the state of our economy. The fact that the public worships numbers as windows into objective truths works to your advantage because numbers are nothing more than a sleight of hand. The only objective truth that matters is the fact that their ain’t no such thing as an objective truth unless your describing the molecular structure of a crystal.
Economic strength rests on the pillars of graft, cronyism and corruption. For too many years, these pillars crumbled and decayed as oppressive regulations spread a noxious wave of integrity over the corporate world.
It has been your genius to renovate and strengthen the pillars and the economy has taken flight as a result. They make possible the freewheeling ineptitude that adds excitement and verve to the dry world of economics and finance. However, America has gone graft, corruption and cronyism one better. In the past these pillars periodically collapsed spreading bankruptcy and ruin through the ranks of the moneyed interests. Now we have a Federal Reserve ready to bail out incompetence at the drop of a hat.
As always, your allies in the restoration of criminalized business activity have been your your congressional democrats. [D]emocrats have perfected the challenging movement of rattling their sabers and genuflecting at the same time. This has turned congress into a well-choreographed Noh Drama in which each party plays its respective part to perfection.
We can no longer speak of an “American economy”; that vanished decades ago. Capital has slipped the bonds of the nation-state and is now a storm cloud floating across the face of the earth spawning tornadoes, torrential rains and floods where ever it sees an opportunity for adding a half point to its bottom line. If our economy tanked tomorrow, it would make no difference to capital. It would simply shift its support to the favela gang leaders who are the corporate powerhouses of the future.
So continue to insist that our economy is strong regardless of what the number say. As long as deceit holds sway, the economy will remain strong somewhere, if not here.
Your admirer,
Belacqua Jones
6:39:48 AM 
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