The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
How Do You Make a DC Intellectual Look Less Articulate Than Sarah Palin Being Interveiwed by Katie Couric? That's easy. You ask them how failure to pass the bailout will give us a Great Depression. The odds are that your favorite DC intellectual type has uttered some dire warning like that. After all, they all heard some authority like President Bush or a highly respected news reporter make such a claim. All right-thinking people know that we just have to give $700 billion to the Wall Street crew or the economy will collapse. While all right-thinking people might know we need the bailout, just about all right-thinking people don't have a clue as to what they are talking about. (...) It is remarkable how the contemptuous comments that the elites have directed at the masses for opposing the bailout can be so much more accurately directed back at themselves. In fear and anger they have embraced a bailout that makes little sense in the context of the economic crisis facing the country. Rather than listening people who actually understand the economy (I doubt a single economist in the country believes that the bailout is the best way to help the economy) they have shouted down and shut out critics of the bailout and have been willing to spread all manner of outlandish scare stories to advance their case. It was impressive to see the mass outrage over the bailout at least temporarily stop the bill. But, the full court press by Wall Street, the media and the entire political establishment is hard to counter. If the bill is not stopped, those who vote for it should at least be held accountable for the economic mess they create. Remember, these are the folks that couldn't see the housing bubble.
That's easy. You ask them how failure to pass the bailout will give us a Great Depression.
The odds are that your favorite DC intellectual type has uttered some dire warning like that. After all, they all heard some authority like President Bush or a highly respected news reporter make such a claim. All right-thinking people know that we just have to give $700 billion to the Wall Street crew or the economy will collapse.
While all right-thinking people might know we need the bailout, just about all right-thinking people don't have a clue as to what they are talking about.
(...)
It is remarkable how the contemptuous comments that the elites have directed at the masses for opposing the bailout can be so much more accurately directed back at themselves. In fear and anger they have embraced a bailout that makes little sense in the context of the economic crisis facing the country. Rather than listening people who actually understand the economy (I doubt a single economist in the country believes that the bailout is the best way to help the economy) they have shouted down and shut out critics of the bailout and have been willing to spread all manner of outlandish scare stories to advance their case.
It was impressive to see the mass outrage over the bailout at least temporarily stop the bill. But, the full court press by Wall Street, the media and the entire political establishment is hard to counter. If the bill is not stopped, those who vote for it should at least be held accountable for the economic mess they create. Remember, these are the folks that couldn't see the housing bubble.
Again, the same question: why are we even listening to the "experts" that put us in the mess in the first place? In the long run, we're all dead. John Maynard Keynes
by gmoke - Aug 14 2 comments
by Frank Schnittger - Aug 12 8 comments
by Oui - Aug 12 9 comments
by Frank Schnittger - Aug 1 20 comments
by Frank Schnittger - Aug 3 4 comments
by Oui - Jul 12 52 comments
by gmoke - Aug 1
by gmoke - Jul 31 3 comments
by Oui - Aug 151 comment
by gmoke - Aug 142 comments
by Frank Schnittger - Aug 128 comments
by Oui - Aug 129 comments
by Oui - Aug 940 comments
by Oui - Aug 716 comments
by Frank Schnittger - Aug 34 comments
by Oui - Aug 31 comment
by Oui - Aug 211 comments
by Frank Schnittger - Aug 120 comments
by gmoke - Jul 313 comments
by Oui - Jul 3016 comments
by Oui - Jul 30
by Oui - Jul 261 comment
by Oui - Jul 253 comments
by Oui - Jul 239 comments
by Oui - Jul 1971 comments
by Oui - Jul 1932 comments
by Oui - Jul 1693 comments