This new column
for National Journal looks at credit after the stress tests, and public
borrowing as cap-and-trade revenues evaporate. It sees trouble ahead.
[The link expires in two weeks.]
The good news is that the world economy may be turning the corner. The bad news is that a lot is still wrong with American banks, and U.S. government borrowing seems to be sliding even further out of control. The first development points to a slow recovery at home, the second to a whole new crisis not far down the road.
Does anyone notice that there seems to be a competition between economic bombshells and torture bombshells to see who can make the biggest badda boom?
The Bush II regime officials had the upper hand yesterday because they revealed that torture started before the 9/11 Commission was even formed.