More on the zombie economy comes from Jim Kunstler. In this week's cheery update,he sums up 2009 and the whole decade:
2009 was the Year of the Zombie. The system for capital formation and allocation basically died but there was no funeral.
Kunstler then extends to riff on other Gothic death themes:
A great national voodoo spell has kept the banks and related entities like Fannie Mae and the dead insurance giant AIG lurching around the graveyard with arms outstretched and yellowed eyes bugged out, howling for fresh infusions of blood... er, bailout cash, which is delivered in truckloads by the Federal Reserve, which is itself a zombie in the sense that it is probably insolvent.
Will these meme continue into 2010, or some other Gothic trope shamble forwards?
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