The stock market is tanking again today, heading again for post-9/11 lows. Thus, despite the fraudulent, fear mongering propaganda used to pass the Wall Street bailout bill, that bailout bill is not helping us. In fact, it is already costing us trillions of dollars.
You ask how I can blame this on the Wall Street bailout bill, when there are other factors involved in the stock market decline? Easy:
1. Last Monday every media person and establishment person in the land, including the politicians like Barney Frank, Nancy "total failure" Pelosi, and Harry "Dirty Oil" Reid, were blaming last Monday's stock market decline on the House rejection of the bailout bill--even though the decline had begun when the bailout was assumed to be going to pass, and even after Tuesday's rebound made it clear that the extra decline Monday afternoon was a reflex reaction rather than a real stock market drop Since that Tuesday rebound, we have had real stock market drops, as the market has gone straight down--even as passage of the Wall Street bailout bill was arranged. If the establishment can try to misrepresent stock market action, and use it to scare you when it was pretty much meaningless, then so can I.
2. Except my assertions are not meaningless. There is a very strong case that Bernanke, Paulson, Barney Frank, Pelosi, Reid, President Bush, the mainstream media, and all of the other scare mongers determined to pass this Wall Street bailout at any cost, have cost people trillions of dollars. Obviously, this is not the result of the effect of the Wall Street bailout bill itself, which has not even taken effect yet--even though the long term effect of the bill could be disaster. Nope. Here we have to look to FDR: "All we have to fear is fear itself." If FDR were right, and experience and logic say he was, the very worst thing you can do in a time of "crisis" is spread fear. Yet, that is exactly what the mainstream media (which has been doing it for years), leftist Democrats (also been doing it for years), Bernanke, Paulson, and establishment Republicans did. To get this Wall Street bailout bill passed, they unleashed fear and panic. It is not too harsh to say they panicked themselves. We will never know what would have happened if our opinion "leaders", including the miainstream media, had been strong and confident (without being Pollyanna). But unleashing fear in the land, and in the world, has to be wrong. It was wrong. No benefits of the Wall Street bailout bill, and it is likely to be a long term disaster rather than provide long term benefits, are going to outweigh the sheer fear and panic induced in order to pass the bill. That is why I say that the people using that fear campaign to pass the Wall Street bailout have already cost people trillions of dollars. Wall Street operates on psychology, and confidence in the future. The mainstream media counseled fear and panic (CNN, MSNBC, Fox News, ABC, NBC, CBS, the AP, and all of the rest). They were then joined by, and in turn amplified, the fear mongering of our panicked "leaders". These idiots spreading fear had the nerve to suggest that this Wall Street bailout bill was necessary to restore "confidence", at the very time they were undermining confidence as vigorously as they could with an unrelenting propaganda campaign of fear. Think how much better it would have been if Paulson, Bernanke, our politicians, and our mainstream media had talked about the underlying strength of the country, while taking strong and confident action, instead of spreading fear to pass a doubtful bill. There is just no way to unleash the fear genie, and then put that genie back in the bottle.
3. See my entries over the past 10 days, somewhat summarized in the entries since Saturday. Fear is the problem, and it is, unfortunaely, the only "weapon" our present media and "leaders" know how to use to "motivate" us. We would be better off replacing them all, including the minatream media (which we should simply discard). We will not do it, and may well elect a worse Congress and President. It is said a democratic republic usually gets the leadership it deserves. We are proving that correct..
P.S. You say that I am not helping here? You say that all that will happen if people follow my lead is that Barack "World" Obama will be elected, and an overwhelmingly Democratic Congress? Well, if your through all incumbents out, it would be a net gain for Republicans. But I have come to the conclusion that voting for the "lesser evil" jsut no longer works. When the incumbent "leadership" is doing this badly, the only thing that works is to keep "throwing the bums out" until they get the message. Thnk of how much better off the country would be if Bob Barr were lelected President--almost no matter how badly he does as President. We are at the point where "sending a message" is essential. I have come around to the view that it really is too bad that Ross Perot turned out to be a nut. The two present parties need to be shaken up. Problem: Bob Barr is not going to win. Therefore, a vote for Bob Barr is probably a vote for Obama. So what. In practice, McCan is not likely to be better than Obama, even though he is the better man. Why continue to vote for people who not only don't listen to you (on immigratioin, the bailout, and so much else, but hold you in contempt. All you have to do is listen to what Obama said in San Francisco, and you know Obama holds you in contempt, as do the far left people behind Obama. All I had to do was listen to McCain over 15 years or so to know he holds me in contempt (and really is not much different from Obama in playing to the mainstream media contempt of "middle class", traditional values--especially if they have to be aggresively asserted and defended). I have come to the conclusion that it is tie for one of two things: Either conservatives take over the Republican Party once and for all or we need a third party. Either way, voting for Bob Barr is the only choice for me. I can't vote for iether of the main guys running. I would prefer Palin, despite her limited experience, but McCain is too high a price to pay to get Palin. I am back to the position of not caring who wins this election, other than being absloutely confident that the best thing for the country would be if Bob Barr won (not going to happen, but it never will if we all have that attitude). If Obama wins, the country will be lucky to survive. If McCain wins, there is little hope it will be any better. The main reason I would sort of like McCain to win is to see the mainstream medai and leftist reaction. That would be fun (maybe we could encourage a mass suicide a la Jim Jones). But that desire to gloat over fallen leftists is not enough for me to stomach McCain. Sue me. I would rather hope for miracles, now or in the future.
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