Bleak Friday

Another day, another minor meltdown in the markets.  In search of wisdom, the only thing I've come up with is this from the business media critic Dean Baker:

The coverage of the market meltdown includes many assurances from the experts that everything is just fine. I suppose it would be considered rude for reporters to ask why anyone should trust the assessments of people who apparently failed to see the current credit crunch coming.

Baker is recommended reading.  His obvious leftishness notwithstanding, there's a lot he gets right.

Looking for a diversion from the state of the economy?  Seems Dick Cheney is, too, according to the McClatchy Newspapers, which have also uncovered this telling sign that Iraq is in no way, shape, or form a sovereign country.  Charming, no?

The whole mess of overseas entanglements could well wind up in Hillary's hands come 2009, as noted in a Los Angeles Times op-ed that only makes more credible my scenario that the Murdoch-owned Wall Street Journal will endorse her.

Are we depressed enough yet?  Well, don't give up hope.

The Daily Reckoning