Tuesday, September 4, 2007

Clinical Depression

Purple haze was all in my eyes
Dont know if it's day or night
Youve got me blowin', blowin' my mind
Is it tomorrow or just the end of time?
--Jimi Hendrix

The pyramid of debt supporting financial markets worldwide has begun to crumble. The dominos have been hitting each other since problems surfaced mid-July at some leveraged CDO hedge funds at Bear Stearns. As expected, government enablers have been quick to administer some Dr Feelgood to the leveraged addict. Stimulants, however, are not what this patient needs. They merely add to the cost of treating tomorrow's crack up.