Wall Street Bailout and "Worldwide" Recession: Blog Proven Correct

Don't even doubt me.  Read the entries in this blog, on the Wall Street bailout and the fear induced to pass it.  Then conisider this story from the "Anti-American, Despicable Associated Press" (always use comoplete, official name in first reference):

"The government's $700 billion rescue, aimed at rebuilding economic confidence, appeared to sound a global alarm instead on Monday, triggering a fearful international sell-off as the U.S. began work on a plan that investors feared would be too little and too late to stave off a worldwide recession"

Ignore the AP "spin", and you should see that I have been absolutely correct, as usual.  While proponents of this bailout plan were spreading fear, instead of trying to prevent it, they were guaranteeing a collapse in worldwide financial markets.  That is what happens when you yell "FIRE" in a crowded theater.  The use of fear by proponents of this bailout, as a a means of getting it passed, leaves them with a lot to answer for.

Oh.  That "spin"?  Notice how the AP put this.  The anti-American AP can't resist preparing to blame us for the "worldwide" recession the AP predicts.  "Too little, too late" implies that the only problem with this bailout is that the government did not do more (like nationalizing the entire financial industry instead of only a part of it?).  This sets us up for a demand (obviously to follow from the beginning of this socialistic approach) for ever more government (taxpayer) action.

Not that what the despicable AP, and Wall Street itself, do not do is put the blame where it belongs:  on fear mongering by the mainstream media (over years, and not just the last few weeks, but increased in the last few weeks) and proponents of this bailout.  There is even the implication that the House Republicans "delayed" the bill too long, which makes no sense at all.  The problem here is fear, and that is what was wrong with the way this bailout was sold from the beginning. Sure, Paulson and Bernanke bear responsibility for that.  But so do the politicians and media who joined the fear mongering in an orgy of "doom and gloom" talk.

Read the bog entries ever since Paulson proposed this bailout, and you will see that this blog has been "right on".  In fact, the blog entries from Saturday on have summarized the problem of this bailout, and the selling of it, pretty well.

We, the public, have been sold a bill of goods.  But it is worse than that.  The very way this bailout was sold guaranteed the resutl it was suupposed to prevent--especially guaranteed it if the "fear" talk continues.  And it almost surely will.  How can you unleash this kind of fear an dthen stop it? You ca't. 

Will the mainstream media and leftist Democrats learn their lesson about "fear"--not to mention establishment Republicans?  Don't hold your breath.