Where Fun Comes to Die

L’shana tova! Happy 5769, everybody! It certainly is starting out with a bang, isn’t it?  I feel like I ought to make some connection between the start of the Jewish New Year and the shakeup of the financial system, but it just doesn’t feel right.  To me the High Holy Days are all about tradition and renewal, and that’s pretty much the opposite of what we’ve got these days.  I could probably come up with an elaborate metaphor in which Hagar the forsaken maidservant represents Lehman Brothers and that little bastard Ishmael represents toxic mortgage-backed securities, but my heart is not in it.

Still, somehow I’m in the mood for a Blblical allusion.  Another possibility would be Revelation 18:10.  “Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.  And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more: The merchandise of gold, and silver, and precious stones, and of pearls, and fine linen, and purple, and silk, and scarlet, and all thyine wood, and all manner vessels of ivory, and all manner vessels of most precious wood, and of brass, and iron, and marble, and cinnamon, and odours, and ointments, and frankincense, and wine, and oil, and fine flour, and wheat, and beasts, and sheep, and horses, and chariots, and slaves, and souls of men.  And the fruits that thy soul lusted after are departed from thee, and all things which were dainty and goodly are departed from thee, and thou shalt find them no more at all. The merchants of these things, which were made rich by her, shall stand afar off for the fear of her torment, weeping and wailing, and saying, Alas, alas that great city, that was clothed in fine linen, and purple, and scarlet, and decked with gold, and precious stones, and pearls! For in one hour so great riches is come to nought.”  (as a side note, it’s worth noting how much the state of economic punditry has declined between St. John of Patmos and Jim Cramer)

I think the story of the Tower of Babel best represents our nation’s recent calamities.  Has there ever been such a perfect storm of mutual incomprehension? Almost by definition, nobody has any idea what in the hell is going on.  The administration has blown its credibility to such an extent that onlookers roll their eyes and snort with disbelief when George Bush claims that the sky is blue.  The wizards of Wall Street are claiming that great and terrible calamities will occur if they are not rewarded for their failure (nice work, if you can get it).  And the Democrats, after years of saying that lenders must offer credit to the poor, are now saying that lenders were reckless and predatory for offering credit to the poor.  Fortunately, intense partisan bickering seems to be saving us from the horror of bipartisan reforms.  We’ve reached the point where nobody knows what’s going on, nobody can talk to each other and we’re all in complete disarray.

The next few weeks might bring a new Great Depression, an unprecedented government expansion, both of the above, neither of the above, and even (my personal favorite) a complete Mad Max-style meltdown where we all go out to the desert and live like barbarian punk rock race-car drivers.  It’s bad times to be a shareholder, or a homeowner, or a worker, or someone who cares even a little bit about the government’s long-term solvency, but it’s a darn good time to blog.  Welcome to WhereFunComesToDie.  Let’s see what happens next.