Hi Tom-

I can’t begin to tell you how relieved and grateful The Abyss is that everyone has been rescued from the economic crisis and that the recovery has finally come. It’s truly amazing after the biggest expansion of credit and exotic leveraging in the world’s history (30 years in the making) and the most historic crash since the G-to-the-D, that it’s all good again after only a couple of nail-biting years.

What’s even better is that all this great stuff happened even while unemployment hit 12% (yup, the official, gubmint-approved U3 index) in California (22% if you count those who have stopped looking for work). And it’s super amazing that the all-clear was rung by the Mainstream Media and the .gov even as 1/3 of homeowners are already underwater across the nation!

So, I guess this whole recovery thing is because the banks are now super healthy since they got what amounted to a little north of $13 trillion in public funds. Or the equivalent amount of paying off all the mortgages in the US. Have to say though, it still feels a little odd, since the consumer is 70% of the economy, that the .gov didn’t try to help out the little guy just a little bit with the whole losing their homes and shelter thing and instead just covered the downside of a handful of hedge funds, er, commercial US banks, with what little cash the people had left.

But I guess there’s the rub. The people not only didn’t have that money to spare for banker bonuses and questionable trading, but are now facing a debt that could stretch out hundreds of years if it were ever to be paid down.

So it works like this, Tom. The consumer is and shall remain 70% of the economy whether the consumer has any money or not. If the .gov just commits that money to the corporate sector before it is even earned by the people, problem solved.

Nice and tidy. But, sadly, one of the reasons Omerica has abadoned the Public Option. Broke, homeless and sick is no way to go through life, Tom. I strongly suggest that everyone get rich right away. So, get crackin’! And by that, I don’t mean turn to street drugs.

Big Pay-As-You-Go Hugs,

The Abyss