Over at Independent Indian, my friend and Hayek protege Suby Roy tries to sum up US history in a hit parade:

When Johnny Comes Marching Home, Summertime, and I Got You, Babe make his list.

Personally, I think there’s one song there that sums up everything: It’s All Over Now, Baby Blue

“The highway is for gamblers, better use your sense.
Take what you have gathered from coincidence.
The empty-handed painter from your streets
Is drawing crazy patterns on your sheets.
The sky, too, is folding under you
And it’s all over now, Baby Blue….”

If that doesn’t sum up our season of madness in the markets, I don’t know what does. With just a little tinkering, it makes perfect sense today:

“The empty handed banker from Wall Street

Is drawing crazy patterns on your balance sheets

Tarp 2 is folding under you….

etc. etc.

You get the picture.