Everyone is going crazy on this financial bailout plan, and for good reason. We've got Ron Paul on one side saying we should wash our hands and let the chips fall while a bi-partisan collection of Congressional clucks on the other side--some of whom are partially responsible--are saying we gotta move fast fast fast to keep the credit system from collapsing.
Evidently that's what Bush will talk about tonight, and what McCain won't be talking about Friday night. My jury is still in deliberation, currently leaning towards a bailout of some kind, but wondering why we have to act immediately.
I'm leaning towards bailout due to two large elephants in the room that weren't present in 1929 or any of the previous depressions--terrorism and a global economy. If America slides into a fast moving depression we'll drag the world along since so many economies depend on our ability, as Beldar once said, to consume mass quantities. That will produce a more destabilized world, one that contains loose WMDs.
Speaking of which, terrorism has lately become a blip in the polls. Matter of fact, when this subject is interjected into the financial discussion the reaction tends to be "you're overreacting/fearmongering". Well, maybe. Eight years elapsed between the first and second attacks on the WTC and we're now at seven, and just as in early 2001, our public focus has faded as another transition of power approaches. Yet has anyone heard the official announcement proclaiming al Qaeda's surrender?
Actually, Mahmoud Ahmadinejad just stood on American soil yesterday and heralded our demise. Clearly he believes Islam will rise to fill the void, making it plausible for AQ to strike here and strike now assuming they're capable. 9/11 was an attack on the economy, after all. Recall what happened to the Dow Jones. Already some on the left are reminding us about the problem so as to hasten our retreat and we may indeed be forced down that path. But history has shown it to be a poor choice against this enemy. Rather depressing commentary for a hump day I know, but just had to say it.
But let's look at the bright side. A huge economic meltdown would reduce our carbon footprint quite substantially, giving the planet more than the 10 years Gore said we've got left to act before everything melts. The Polar Bears will be safe. And, with all the companies going belly up in America the illegals might even return home with hats in hand due to a sudden lack of jobs Americans won't do.
Hey, maybe W hasn't given up on being the Uniter.
Hmmm. Sure sounds like Bush is confirming McCain's seriousness on this issue. A skeptic might say it provides the cover McCain needs to get back into Friday's debate, but one might think if it's just that--cover--Obama wouldn't hesitate to exploit it. So it must be something deeper.