DRAWING on OBSERVATIONS

Ball point pen on the morning newsprint

The Deficit for the coming year is eleven percent of GDP and the most optimistic of forecasts project unsustainable debt for at least ten more years.

Translation: A Hard Rain’s A-Gonna Fall.

I saw ten thousand talkers whose tongues were all broken,
indeed.

Ball point pen on the morning newsprint

Obama unveiled his economic team yesterday. The starting Director of the White House Domestic Policy Council, from the University of North Carolina and University of Michigan, Melody Barnes. At Secretary of the Treasury, from Dartmouth College and John Hopkins, Timothy Geithner. Starting Director of the White House Budget Office, from Princeton University and London School of Economics, Peter Orszag. At Chairman of the White House Council of Economic Advisers, from the College of William and Mary and Massachusetts Institute of Technology, Christina Romer. Starting at Director of the National Economic Council, from Massachusetts Institute of Technology and Harvard University, Lawrence Summers
The stock market has rallied 900 points in two sessions.

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