Treasury Secretary Geithner has called for an additional two trillion dollars in aid to Europe to prevent the collapse of the European banking system. Geithner calls this a ‘two trillion dollar bazooka’. In the dim distant past, when I was a lad, during the FDR era, a comedian named Bob Burns invented a musical instrument that looked mighty like a piece of stovepipe. In fact, I believe it was a piece of stovepipe. So when a stovepipe shaped anti-tank weapon came along for WW2, it was naturally called a bazooka. This is where we are, Geithner calling for a two trillion dollar bazooka to stave off the inevitable for another day or two. I remember laughing when Bob Burns played his bazooka. I’m not laughing now.

 

 

Oh yes our Bernanke

Will sometimes get cranky

When some say all’s darkness and gloom

He’ll just print more money

Then all will be sunny

Just let the bazookas go boom

The problem of course is

There are no more horses

Through open barn doors they’ve all fled

And all the bazookas

Aimed by those palookas

Are now aimed at Bernanke’s Fed

 

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