I'm A Mushroom Cloud Layin'

Muthafucka', muthafucka!
Every time my hands touch brain, I'm muthafuckin' Supa'Fly TNT! I'm the Guns of the Navarone!

Save Fannie Mae and Freddie Mac = $269 billion
Prop up Federal Housing Administration = $300 billion
Shotgun wedding Bear Stearns to JP Morgan = $29 billion
Initial loan to AIG = $85 billion
Second loan to AIG = $38 billion
Third loan to AIG = $21 billion
TARP (aka Help The Banks Program) = $700 billion
Potential loan to General Motors = $10 billion
Fed swap line with New Zealand central bank = $15 billion
Fed swap line with Mexico = $30 billion
Fed swap line with Brazil = $30 billion
Fed swap line with South Korea = $30 billion
Fed swap line with Singapore = $30 billion

The list goes on and on and on. A fucking money tsunami. Which is why I turned into a mushroom cloud laying mother fucker when I read this story run by Bloomberg today:

Oct. 30 (Bloomberg) -- The White House and Treasury Secretary Henry Paulson want to scale back a proposal by Federal Deposit Insurance Corp. Chairman Sheila Bair to guarantee mortgages to help stem foreclosures, according to two congressional aides briefed on the matter.

The Bush administration is reluctant to sign off on the plan because of its cost, the two people indicated. Bair's idea to provide guarantees for modified loans could take as much as $50 billion from the $700 billion bailout package approved by Congress this month.

Because fuck everday people who are on the verge of foreclosure.

I am totally, completely, absolutely convinced - we have lost our way.

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U.S. GDP contracted (down 0.3%) in Q3 2008, the most since the 2001.

Details of Q3 real GDP growth from the Bureau of Economic Analysis:

Real personal consumption expenditure: -3.1% (was an increase of 1.2% in the Q2)

Nonresidential fixed investment: -1% (was an increase of 2.5% in Q2)

Exports: +5.9% (was an increase of 12.3% in Q2)

Government expenditures: +13.8% (was an increase of 6.6% in Q2)

Inventories added 0.56% to GDP growth (was a subtraction of 1.5% in Q2)

Disposable personal income: -$102.4 billion (was an increase of $409.3 billion in Q2)

Real final sales of domestic product: -0.8% (was an increase of 4.4% in Q2)

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Dow up 2.11% to 9,180. NASDAQ up 2.49% to 1,698. S&P up 2.58% to 954. Gold currently $736/oz.