"The intoxicating US housing boom has come to an end. Now the economic hangover has arrived. What is likely, at the very least, is a prolonged crisis of the credit system. And as credit greases the wheels of capitalism this is no laughing matter for the capitalist class." ['Bubble Troubles' by Michael Schauerte]
Hot on the heels of sitting through the 'Decline of the Dollar: Decline or Flexibility of the Empire?' meeting at last weekend's Left Forum with a mixture of bewilderment and the cold sweats comes 'Bubble Troubles', the latest article from the World Socialist Party of the United States website.
I'm now taking odds on who'll be the first amongst McCain, Clinton and Obama to quote Norman Lamont's old words of: "If it's not hurting, it's not working." (I'm not taking bets on Ron Paul. He's been mouthing those words with a smile on his face for the last thirty years.)
Where did I put my copy of 'Sullivan's Travels'? I think I'll be needing it for the long haul.