The Bailout : I'm at a Loss
As y'all know by now, there are few, if any, topics about which I don't have an opinion.This bailout thing, however, has me scratching my head. Ordinarily, I'd be arguing for letting the market forces work to return things to equilibrium. If the market drops, or the economy slows for a bit, so be it. I'd like to think that there really aren't that many folks whose personal survival depends on continuous economic growth and uninterrupted profit. Sure, we'd all like to see that happen, but we all know better than to rely on such assumptions. Of course, even though we all know better, I know an awful lot of folks have been living well beyond their means. Even for those living within their means, an awful lot of them have been living at the ragged edge. Those folks are going to have a tough time if the economy tanks. A whole lot of folks I've always trusted as staunch free marketeers are telling us it's time to put all that "nice theory" aside and accept that massive government intervention is an "unpleasant reality" if we're even going to HAVE a market system tomorrow. I feel a little bit like I might feel if my pastor advised me on the sly to visit the mosque every once in a while--ya know, just in case this whole "Jesus" thing doesn't end up panning out. Maybe the prophets of doom are right about the need for this payoff. I'm not an economist and I really don't know. What I do know is that I feel ill.