So it turns out that there are two kinds of vampire squids.
There’s the vampire squid that “is wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money,” and there’s the vampire squid that does the same thing while also taunting you with outright lies and insults.
Henry J. Paulson, former CEO of Goldman Sachs and former US Secretary of the Treasury, is the second kind of vampire squid. His Eminence stepped down from the clouds briefly to speak with the the NY Times’ Andrew Ross Sorkin about the real cause of our now double-dipping Great Recession. His take?
“Many of the Western democracies — including the U.S. — have a problem that voters want benefits they don’t want to pay for,” Mr. Paulson said.
Here’s one good thing about the pending arrival of a Mitt Romney Administration in January of 2013. At least we won’t have to hear about the deficit anymore.
If we’ve learned anything about the Republican style of governance in the last three decades, it’s this: The GOP runs up enormous deficits when a Republican is in the White House, then uses those same deficits as a means to shut down government when a Democrat is in the White House. Once Mitt Romney or Rick Perry or Jon Huntsman takes up residence in the Oval Office in 2013, you can bet it won’t be long before the deficit mania vanishes and the GOP returns to its previous philosophy so eloquently expressed by Vice President Dick Cheney in 2002: “Reagan proved deficits don’t matter.” Continue reading →