Everyone! Make An Orderly Line At The Trough!!

Uncle Sam is giving away cash! Actually, he's giving away your cash. CNN is reporting that AIG is the latest recipient of a government gift. A mere $85 billion "loan" (apparently that's what you call it when you give it to a compulsive gambler who's luck has temporarily gone bad). In return the government gets an 80% stake in the company. There's something strangely ironic about an insurance company that made money hand over fist for assuming risks then -when things go bad- they pop their golden government parachute. Kind of like discovering that Mili Vanili didn't really record that album you bought (....you know it's true).

And this brings up an interesting question. Why are we still angry at Fidel Castro? We're nationalizing the private sector faster than he ever dreamed of. In 1997 dollars, he only nationalized $6 billion in US assets in 1960. We're way beyond $6 Billion just this week. So much for the free market, eh? Maybe the US should get into the automotive, airline and home construction businesses too.

These giveaways currently add up to a total of $900 Billion in giveaways in less than a year. And man, Paulson's just getting started! It's interesting to note that Paulson has close, personal ties with China. Maybe he's the economic Manchurian Candidate?

But to be fair, it was our friends and neighbors (and perhaps "us"?) who got us into this mess. The True Believers who thought the housing market could only go up. and up and up. So why not take out that 3rd home equity loan and take a 6 month tour of Africa? We can't lose!

So, in the next few weeks, I'm sure the sound will get louder and louder....The Giant Sucking Sound of the American Dream being foreclosed upon and the collapse of America's free market facade.