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The Republican Recession and the Financial Press

I don't read the financial press much these days. I used to follow the markets closely as I managed my own retirement portfolio, but for the last 15 months I've been 100% invested in Gold -- a strategy that has served me well and continues to do so -- and frankly, it's nice to not have to worry about the direction of the stock and bond markets.

But I do trade in and out of Gold, practicing a bit of market timing that is based largely on the strength of the dollar, the price of oil and international news, so I do keep an eye on Gold's technical indicators. While doing so today I noticed this link to a Marketwatch article and the headline caught my eye.

11 reasons Bernanke's recession lasts till 2011

Since the current recession is one of the drivers behind Gold's continued surge I clicked on the link -- and I was just amazed at the extent to which this article rails at the current administration over their ineptitude in dealing with the economy, but more importantly -- and more germane to the political bend to this blog --the way it rails at the Republican administration's integrity in no uncertain terms.

Remember that hot 1973 Stealer's Wheel song marking the end of the Nixon era? "'Cause I don't think that I can take anymore. Clowns to the left of me, jokers to the right, here I am stuck in the middle with you!"

It's still a perfect metaphor. Testifying before Congress: Fed Chairman Ben Bernanke on the left. Treasury Secretary Henry Paulson on the right. The American public stuck in the middle.

Last summer they assured us the subprime-credit crisis was "contained." We now know that was a big lie. They knew, had the facts, early warnings, lied and are still lying. More proof? They just told Congress: "America will avoid a recession." New data tells a different story.
Clowns to the left ... jokers right ... stuck in the middle ... can't take it anymore.

But we have to, we have to hang on at least 10 months more, praying they won't do too much more damage. But I'm afraid they will: more lies, blunders and incompetence will drag out this bear. Like the song says: "Got a feeling something ain't right."

Wow. The financial press used to be a Republican stronghold of spin, and you could always count on the the financial press as being "GOP-positive." And I read enough articles in the Wall Street Journal to know that is still largely true there, and I'd expect the WSJ to not change in that regard now that News Corp owns the paper.

But the tone, demeanor, and refreshing honesty with which Paul Ferrell attacks Fed Chairman Bernacke and the GOP administration in this Marketwatch article is really refreshing - and a further, welcomed indication that the nation has just plain had enough of the Republican'ts for a while, and seems quite ready and willing to kick their butts out of Washington.

Note: Wizbang Blue is now closed and our authors have moved on. Paul Hooson can now be found at Wizbang Pop!. Please come see him there!

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Editors: Lee Ward, Larkin, Paul S Hooson, and Steve Crickmore

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