The official line is already developed: An (unknown) PRIVATE firm made a trading error which lead to the Big Hiccup in the stock market today. Get that, you Obamunism aristocrats? This is the evidence you wanted that government should control everything. Never mind the fact that this highly nervous stock market is nervous precisely because of clumsy government twiddling.
First, the sovereign government of Kuwait calmly defaulted on massive loans, which had been used to build Kuwait World. Next, Greece suffered riots because the people wanted the leftist government to continue to hand out goodies on national credit. Next, Spain and Portugal are on the list of potential sovereign defaults. Finally America could collapse, under her massive debt load imposed by leftist aristocrats paying off their political “buddies.”
Globally, governments are trifling with the people's lives, going into massive debt the citizens get to pay, and toying with their citizens opinions -- mind control by “goodies” control. The leftists insist everything-is-free-for-nothing is the right of the people! Free-for-nothing and under government control.
Democrats were already posturing for Wall Street reform. Uncertainty and an extra burden of regulation may be just what the authoritarian left needs to bring down the surprisingly robust American economy. Not that the leftist aristocracy will suffer -- not at all. Their plan to overhaul Wall Street really is a plan to place their "buddies" in control of American business and commerce.
This is all power politics for the left. In the end, the people lose their sovereignty. The private life will no longer exist; liberty will become meaningless.
Our whole economic debacle started in 2003 when House Democrat Barney Frank blocked the US Attorney General from investigating funny business in the Government Sponsored Enterprises Fannie Mae and Freddie Mac. Frank had padded his political "buddies" incomes with fat positions in the GSEs. Screaming the GSEs was solvent, and the poor must be housed, Frank stopped investigation into charges of massive fraud and payoffs.
Naturally Frank insisted that Republicans were behind the payoffs in Frank's own pet project. Many voluntarily insane Democrats still will to believe this baloney. See background information at Wikipedia or the New York Times. Also see the related post at Conservative Feminist
But the damage is getting done. So which American cities will have riots? Will the leftist controlled American government insist on more borrowing to soothe their political allies in the streets? The old, tired, worthless ideas of the American “Democratic” Party may yet impose final misery on the people.
Sort of Unrelated
The volcano in Iceland blew up. Climate shift, and cool northern hemisphere results. Food may become more expensive in result of the shortened growing season. The Democratic controlled Congress insists on taxing the American people for global climate change. No compassion, only greed, arrogance, and Democrats -- they just go together.
These are Scary Times.