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Originally Posted by August
I hope the deadlock continues. Read the CNN article i posted above.
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Me too, but I don't think it will matter in the end. Public sentiment seems to be against bankers and "lack" of regulation, judging by the media response and the papers here.
The Republicans have offered a glimmer of hope by turning the package down, but I won't count on them defeating future measures until I can access some of the .gov pages I usually use to check up on Congressmen. They're still down right now.
There is a fundamental flaw in public reasoning, exemplified by repeated usage by the media of the phrase "Who will/should run the country?"
Government isn't supposed to run the country, it's supposed to let the country run.
When everything goes to hell in a handbasket, most people look to the State to fix it, even when the state caused the problem in the first place. And who can blame them? We are taught this system from first grade (if you are in a public school);
"We're a Democracy" "We are Empowered" "Your vote counts" blah blah blah......
whatever.
Trusting the State to solve problems is especially dangerous when combined with politics, which is mostly the art of manipulation and/or deflecting blame. The sources of problems are misidentified, and the problem continues, only to be "fixed" again, and resurface again with worse consequences.
I'm not sure what Washington's next move will be. The media has been strongly critical of bailouts (generally under the misconception that the companies are entirely at fault), but the recent nosedive of the DOW and the repurcussions we are seeing worldwide already may spur a knee-jerk response.
Either way, general fiscal policy will probably remain unchanged. Best case scenario; bailout rejected and we ride the recession to a new bubble in some other industry, back to square one.
Worst case; bailout passes and the resulting inflation and public debt makes the next bubble-burst worse.
Without a major policy reversal in State spending we will eventually slide to economic ruin and social chaos.
