It is fitting that this new blog "Anthropositor's Posts" commences on this day, as the sun sets on the world as we knew it.The details are not clear, and won't be for a while, but the impending disaster that we face is completely unprecedented in scope, depth, and probable duration.

The American Taxpayer will almost certainly be forced to bail out, to the tune of $700,000,000,000, financial giants which have played fast and loose for decades on several deregulated fronts. Forced I say, because the alternative is the meltdown of the entire world economy. Forced I say, because whatever the final provisions hastily thumb tacked together, we will also elevate an appointed official to heights which, in terms of raw power, are greater than those of whatever new President takes office.

And the worst of it is, there is a vanishingly low likelihood that it will work. The only argument that it will work is this: It must. Sorry folks, that argument is not persuasive. The truth is that it is unlikely to work even for weeks or months. The security for this bailout is virtually entirely worthless. The notion that valueless securities and mortgages will somehow gain value when the panic subsides is ridiculous. The panic is well justified by the facts.

So that you will have some distractions from this disaster, I have put the archives of my previous blog up here to divert you to a certain extent while I reorganize and make this blog more effective. It remains to be seen if the changes I have planned will do the job, but they have a better chance than this economic bail out.

Let me be more succinct. This economic bail out cannot work. It will ultimately make matters much worse.