Just noting this for reference.
The media on both sides have unquestionably decided that the Grand Theft Nation is the ONLY POSSIBLE PLAN, and unquestionably decided that we have a Total Crisis of All Money, regardless of facts to the contrary. The CNN article
I mentioned below, while detailing the normal
operation of most honest banks, was headlined "The credit crunch: Loans out of reach".
All of the Great Experts start from the assumption that Paulson's Grand Theft Nation is Holy Writ, the Gospel of Economics Handed Down By Moses; any slight departure from the Holy Theft, any alteration of the tiniest comma or semicolon, is UNTHINKABLE, HERETICAL, SATANIC, IT'S A WITCH! HELP, IT'S A WITCH! BURN IT! BURN IT! BURN IT!
Well, what's odd about this? Paulson's Grand Theft Nation is also Bush's plan.
In other words, the Great Experts, who automatically reject anything remotely connected to the word Republican, are automatically clinging to this Bush plan.
Whenever I see an apparent
inconsistency, I search for consistency at a deeper level. Earlier I assumed the experts are paid accomplices, but maybe it's simpler and more personal. If the Great Experts are all living beyond their means, living on pure false credit based on layer upon layer upon layer of false numbers and false logic, the Paulson plan may well be their personal
= = = = =
Update 9/30: Dave Ramsey just verified the latter hypothesis. He mentioned on his radio program that he has been appearing on TV to oppose the Bush-Paulson plan. (He's certainly doing the Lord's work in those encounters!) He says tonight that the media types are in fact running scared on a personal level. They're living so far beyond their means that a return to honest business will destroy them.
Speaking of Ramsey, I really need to credit his philosophy for my own ability to look at this mess without
fear. I was in serious debt ten years ago, and following the Ramsey principles helped me to reach my current "independently poor" position.