The Junky Awaits His Fix

No, this isn't about drugs—well, not really. Not literally. This is about the money-changers, and what they're hoping for, and probably won't get ...

From Ben (Bernanke, tomorrow), and then Mario (Draghi, September 12th).

All these free market folks hoping for a little government boost, to help keep their markets (which would otherwise be sinking like bricks) afloat, the price of gold rising (as the dollar and the Euro get further watered down), and to perhaps (for the more earnest) stimulate growth in our otherwise intractably moribund economies.

One thing I agree with the Libertarians on: you can't stimulate growth in a debt-soaked culture by adding more debt to it. As with someone who has already rung up his credit cards to the limit, one can raise the limit to keep him going (and out of your hair, your basement, your wallet) a little longer, but that does not solve the problem. Still, if you don't want him in your basement, or stealing your stuff, and  by raising his limits on a card or two you can keep him at bay for a little while longer, maybe, among a bunch no hope solutions, it isn't the worst.

Still, don't call it a strategy for growth.

And if you're Paul Ryan—a pretty much lifelong employee of the taxpayers, don't forget—don't act like fixing the problem is as simple as telling the guy to live within his means. Especially when you're still insisting that he keep up his bar bill at the place where you tend bar, and keep buying his leased vehicles from your dad's lot, this on a salary that isn't what it once was, and that you have no intention of increasing. Your thinking is pure goofiness, too. You, in particular, should get your head out of your ass and understand that this fellow isn't going to go gently into that good night ... though he could be closer to living in your basement than you might think.

Anyway, back to Ben and Mario ...

Here's what I think: those waiting for Ben to save the day are going to be disappointed, in the near-term, if not the long-. In a mere two months we here in Ben's local economy vote for the next president of that local economy, and Ben Bernanke, given the not terrible situation the economy is in at the moment compared to, say, Europe, or where it was when we were voting for the last president, isn't going to sully his office any further for the moment by doing a solid for the political classes. Moreover, he must be tired of everyone looking to him to solve a situation that he isn't going to be able to solve without a great deal of political (read: fiscal) help of the sort he isn't getting (and let the voters, in November, decide why), and a minimum of another decade of patience from the population he nominally serves (especially if you're a banker), even if certain politicians who may or may not know better would like us to believe otherwise.

But don't get me started.

Mario Draghi, of the European Central Bank, on the other hand, might do something. Timmy Geithner (the Secretary of the Treasury—a position the European Union doesn't have, which, some would say, is a problem) has been seen skulking through Europe lately. Perhaps he and Mario, and some Germans, have talked. Mario doesn't need to worry about a conflict of interest vis-a-vis the upcoming American Presidential Election, he just needs to worry about the Germans, who, if you know anything about the Germans and the Greeks and their history going back to, say, 1940, might give you, as well as Mario, a dispiriting pause.

Still, tough love isn't isn't all it's cracked up to be—especially once you've let the fuck ups in the door. They have their pride, too ... and we've all made our mistakes.

And memories are long.

Still, right now, if I were junky looking for a quick fix, I'd be looking to Mario more than Ben.

Stay tuned!