Andrew Sullivan identifies something that's been bothering me a lot as well. Why is our government spending great gobs of money to prevent the reckoning that cannot be avoided? Aren't they just kicking the problem down the road? Because the money being used to buy time now is going to have to be paid back someday, right? Here's Andrew:
Like most of you, I am not an economist although I try to make as much layman's sense of it all as I can and am not completely ignorant of history. But the radicalism of the current policies pioneered by Paulson and Brown and now getting even more outlandish seems to me to have two potentials: to somehow drag us out of this without an almighty crash now but make the recovery from debt even more arduous, or to add unimaginable mountains of debt to our current plight and still not manage to avoid the crash, thereby making it all much worse. The abandonment of any sobriety in this moment is disturbing. Everyone is acting as if the worst thing that could possibly happen is that we should all feel the full impact of the massive fiscal recklessness of the past decade.Why? Why does the world owe us a soft landing after the insanity of the last decade? Haven't the excesses of the past shown that it is only through such market discipline that we will ever avoid the easy path of borrowing out of greed? Yes, innocents will suffer terribly, and many of the guilty will escape. But that is life: we can and should try to help the poorest, but avoiding our collective responsibility for this insanity seems a very bad signal to send to ourselves.
The truth is: we had this coming. We deserve it. And we deserve leaders who are able to tell us that.
Coming next: the credit-card crash. Tom Friedman sees, rightly, this economic collapse as fundamentally a moral collapse.
One wonders how long we'll be able to delay the reckoning for living far, far beyond our means in terms of sexual morality. That will be even harder for this society to come to terms with than our fiscal profligacy.

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The bailouts are bullshit; it's a giveaway to the rich. We're giving the Wall St. scum huge Christmas bonuses by way of tax dollars. These are the same idiots who played Casino with our pension funds and life savings, gambling on derivatives and other arcane/bullshit financial instruments.
I'm with you Rod; it would be better to let the system clean itself out rather than try to prop up something that is going to crash anyway.
We are rewarding the very same despicable vermin who actually CAUSED the mess! It's INSANE.
They are raiding the treasury like never before in the nations' history. The numbers are so staggering that laymen cannot possibly understand the full impact.
My God, we could have paid for universal healthcare, alternative energy, alternative transportation...and more, many times over! There should be riots in the streets. There should be perp walks.
There should probably even be some executions for high treason, and I am completely serious.
Think about this....they throw TRILLIONS at the Wall St. scum, yet the automakers are chastised for asking for a measly 25 billion loan. At least automakers DO something for a living! I mean, as opposed to shuffling paper around and stealing from the populace.
I no longer have any faith at all in our government. I think that they are throwing away the future of this country; the giveaway will probably hasten the collapse of the currency, and at the very least will further debase the dollar.
It's sad that I have to keep moving my paltry little savings around in fear of bank failures. Who would have ever imagined that we would turn into just another banana republic with an oversize army?
yup...
the "reckoning" is almost upon us...
the change to living without excess debt may be brutal...
for govt, business and many persons...
but since excess debt is unsustainable, its elimination is necessary...
but...
unfortunately...
a future return to living-within-means has other hazards...
like...
you know...
the fact that the world is passing by its Peak flow of Oil...
so...
IF world recession ends and economies start to boom again...
oh yeah, demand for oil once again will surpass supply...
and the fact that the world is almost out of cheap energy will show itself...
the coming Age of Expensive Energy may crush any chance of economic growth...
but hey...
have a nice day, everybody!
2009: Hope for the best, prepare for the worst...
abundance faith hope love joy peace to all...
Forgive God...
For me it comes down to the fact that we can't stand still as a society, and that's what the bailouts are trying to accomplish.
Either we let the free market work its magic-with all that entails, job loss, job creation, massive upheaval in industries, displacement of people from onle section of the country to another. OR, we try to make time stand still, with all that entails, stopping change and innovation, locking those at the lower end of the income spectrum into their lives, further cementing the status quo.
For example, look at the economic team Obama has assembled. Why should a reasonable person think that they will have any insight into the situation that deviates from doing everything in their power to retain their place in the economics "heirarchy"? They are part of the problem-they have nothing to do with the solution, which is allowing the free market to work its painful yet creative magic.
I'm confident of two things-first, that if we allowed the market to operate that our culture would work the past excesses out of the system over the next few years, and we would have a stronger economy than ever, and second, that there is not a chance in hell this will be allowed to happen. I thought of one other thing-this blog software is a classic example of something that needs creative destruction.
Re: Either we let the free market work its magic-with all that entails, job loss, job creation, massive upheaval in industries, displacement of people from onle section of the country to another. OR, we try to make time stand still, with all that entails, stopping change and innovation, locking those at the lower end of the income spectrum into their lives, further cementing the status quo.
A false dichotomy.
If some new and terrible epidemic broke out among us, it would be entirely natural, but would anyone counsel us to let nature take its course"? Even if we didnlt have a cure as to how to cure it we would still take steps to limit its spread and to ameliorate its effects among its victims. Anything else would be criminal neglience.
Yes, Rod, your friend Wendell Barry may very well have "explained far more lucidly and poetically than" you did - for you didn't "explain" any connection whatsoever. You merely stated your belief that there is one.
And yes, I did read the blog post - in its entirety. The sexuality thing seemd nothing more, less or other than an add-on typical of your 'the world is going to Hades in a handbasket' school of doom and gloom 'thought'.
If there Is a connection, feel free to make it, and then to support it with evidence, rather than merely linking to an old blog post (of your own, no less) that only re-iterates your worldview.
Meanwhile, I re-state, this post had nothing (i.e. nada, zip, rien, nichts) to do with sexuality.
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