Oh Crap!

The bursting of the housing bubble and the ensuing credit crunch is just the beginning of the end American supremacy in the financial. Thanks, guys, for fucking it up!!!!!!

Here's what the German finance minister, Peer Steinbruck, had to say today:

“The US will lose its status as the superpower of the world financial system” with the emergence of stronger, better-capitalised centres in Asia and Europe, he told the German parliament. “The world will never be the same again.”

His comments echo deep anger in Germany at the perceived recklessness of Anglo-Saxon financial engineering and a feeling that the US model of economic liberalism has failed while the more regulated, long-term oriented and industry-based German economy has proved more resilient."

We have become the basket case we have made fun of in the past (see American response to Mexican peso crisis in 1995 and Russian financial crisis in 1998). What a major embarassment this country has become.

I'm Baaaaaaaaaaaaaaaaaaaack!

It's been almost six months since my last post, and a lot of stuff has happened. Anyway, I have been busy with work and I most definitely promise to update my blog when I am not doing any work, instead of religiously refreshing Wonkette for new witty comments. Ha, ha!

Easter Sunday Dinner

Delicious food from Easter Sunday dinner with my friends.

My Saturday in Pacific Beach

After a tiring week, I decided to spend half of my Saturday reading Sorrows of Empire at the beach.

We Need Oil, And We Need Lots of It

From the American Conservative (Robert Bryce):

At that rate, each U.S. soldier in Iraq is costing $840 per day in fuel delivery costs, and the U.S. is spending $923 million per week on fuel-related logistics in order to keep 157,000 G.I.s in Iraq. Given that the Iraq War is now costing about $2.5 billion per week, petroleum costs alone currently account for about one-third of all U.S. military expenditure in Iraq.

It's nice to see that things are going well in Iraq.

I'm a Cat, I'm a Kitty Cat!

Meet Japan's first anime ambassador, His Excellency Doraemon!

Created by cartoonist Fujiko F. Fujio, Doraemon is a Japanese cultural icon and is popular around the world, especially in Asia. The robotic cat travels back in time from the 22nd century and uses gadgets such as a "time machine" and an "anywhere door" that come out of a fourth-dimensional pocket on his stomach to help his friends, allowing them to travel anywhere and to any time they wish.

Can Someone Please Stop This Train Wreck!?!?!?!

Watching the market today was like watching a train wreck waiting to happen. Of course, everyone was giddy when the Dow Jones, Nasdaq, and S&P 500 cut their losses today (The DJ actually gained today. However, that does not mean that the effects of the credit crunch are over. This is the beginning of the end of the credit boom. How does this relate to the graph above? The more the Fed cuts its rate, there is more liquidity in the system, which means that there are more dollars circulating in the system, which means that the dollar itself will continue to lose value against major currencies. This happens while many Americans, including myself, watch as their monthly paycheck is doubly ravaged by inflation and devaluation. This is just plain bad and the train wreck has yet to complete its route. Oh yes, to be bitch-slapped by the Invisible Hand.