Credit clog. Again. Credit clog. The banks, the bankers, the investors, the traders, all these people and institutions have gotten themselves into a state of distrust. They don’t trust each other. They don’t trust their counterparty. They don’t trust themselves, the rating agencies. They are clogged with doubt. They will not credit each other. Why should we trust them, when they don’t trust themselves. They, at least their acolytes, don’t trust the government to solve anything. So what has happened is an embolism. Symbolic embolism. The perfect market economy can not function, because it doesn’t know the price. Doesn’t know how much deception has been deployed. And oddly, the Hill can not save them from themselves. Keynes once wag’d that wall street was necessary, otherwise they would wander the street stealing from women and children’s funds. This isn’t a matter of fear, it is a matter of trust. We no longer trust. If you were wiser, perhaps you never would have.

the market fails. the bullshit on bear street piles higher, flowing into the drinking water. So, the big fall today is all Washington’s fault. Sounds like blaming the fire department for the fire you started in your kitchen when you poured the Chivas onto the foie gras.

I am with those that say let it all fail. I have learned much from the conservatives. It will be much better after the fires, after the riots, after the reset. Oh, but it won’t come. Why? Because the market can fix itself. The elves of wealth are full of ideas. Isn’t that what the marketeers say? Isn’t the econocaste able to deal themselves into or out of any hand? Wealth is the measure of intellect (a widely held precept). Let the wall streeters wealth their way out of this.

I know that will not happen. Instead they will cry out. Call for help. They always do, these spoiled children. Spoilers of the water. Wall street’s sewers are maintained by main street plumbers. It is the american dream. Maybe if we put out the fire using their sewage, this time the smell would last, would teach. We won’t. They won’t.

Wall street, the market, will not solve this problem. They don’t yet know what they have built. They can’t understand it, they did everything they were supposed to. What did we do that was wrong?

Only sewage trickles down. Trickles down until it backs up. Looks like it’s your turn now at the pump works.