Your Daily Bloodletting

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dr. polidori here, reporting Live for The Weather Channel this evening.

It is snowing, but not the usual white stuff you associate with the 1st Day in February: it is actually a blizzard of pink slips!

If the groundhog sees its shadow tomorrow, I predict it will also have its ass canned and then served as Spam in the nearest homeless shelter…

Meanwhile, those who have taken out equity mortgages or who hope to live off the equity of their houses in their “golden years”, might just as well “hop the stick” now (as they say) since Business Week is predicting at least a 25% drop in home values nationwide before any kind of “bottom” is reached, and most likely that “bottom” will just be another jutting rock which will crumble upon impact and then join the jolly cascade into universal poverty…

I know. You probably think your Weather Channel correspondent is being too bleak, too pessimistic about the forecast. And maybe it’s just a side-effect of his new medication…who knows? He will readily admit, for instance, that it is all just a point of view (depending upon where in the hegemony of our economy you happen to stand–or kneel–or be caught with your head in the next closing clog).

The silver lining in all this bad news (if not the touch of grey in the sliver lining) is the Great News about the Federal Reserve!!! It’s frenetic duty these days is not to alleviate the dire straits of the unemployed and underprivileged who are now lining up for blocks at the empty pantries of food banks (as might be hoped by those same unemployed and underprivileged), but only to save the bacon of the non-food banks’ wealthy owners! And the Christian Science Monitor says so right here.

Of course, Oil People are also hurrahing like never before at the current state of things and even the forecast for the future. Yesterday it was Shell Oil and today it is Exxon-Mobil with record-breaking profits which perhaps they will use, in part, to continue sponsoring Masterpiece Theatre for all us PBS Plebes to enjoy while sleeping in empty factories…

I recommend a new production of Little Dorrit!

Well, that’s it from dr. polidori reporting for the Weather Channel. Stay tuned for an update on how the Big Drug Companies are weathering this gathering storm.

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