The Game Is Over

It finally happened. The era of supply-side economics is over. This is the day that the various movements of money in a recirculating cycle of lending and borrowing to produce wealth out of investing in and financing wealth for the sake of wealth itself - tax cuts for the rich with no investment in material goods or resources that make an economy go and grow - is over.

Enough members of the House of Representatives refused to give Wall Street a blank check totalling $700 billion for the sake of doing anything to prop up the Ponzi scheme our economy has become and the stock market plunged 777.68 points - the biggest one-day drop in history.

With credit frozen all over the world and with a global recession getting deeper, the Republicans sought to absolve themselves of all blame by charging House Speaker Nancy Pelosi with partisanship because she dared to speak out against the Republican economic policies of the past eight years. And all they did by refusing to support the bailout (to be fair, some Democrats wouldn't support it either) was do political damage to their own President, who supported it. Meanwhile, John McCain blamed Barack Obama for the mess, even though Obama may have done as much to help the plan as McCain did to hurt it with his grandstanding.

As Casey Stengel once said of the 1962 Mets, "Can't anybody play this game?"

No, and neither can today's Mets. R.I.P. Shea Stadium.

Meanwhile, there were so many special reports on the progress of the bailout package over the weekend that cable news channels failed to re-air the first presidential debate for anyone who missed it. Ahh, I never saw the last "Newhart" episode either.

Expect fewer entries on my regular blog for the coming month, as I am working on my presidential biographies on my MySpace blog.