Thursday, February 19, 2009

Maybe The GOP Should Run Rick Santelli

This is actually a pretty articulate takedown of the mortgage bailout plan....lots better than most of what one sees coming out of the Republican caucus. The passion doesn't hurt.

The more I see of the bailout stuff the more I fall back to my original position.....let everyone fail. Expand the safety net,if need be. But don't attempt to resuscitate the corpse of the real estate bubble. Recessions and even depressions are a part of capitalism. We wouldn't be suffering from economic pneumonia now if we hadn't been so intent on using cheap credit and easy monetary policy to avoid catching recessionary colds for the past twenty years. Our debt problems will be catastrophic soon, if they aren't already, and will make for much larger structural changes than anything a depression could do.

UPDATE: Unfortunately, K-Lo thinks he has candidate potential too, whcich is pretty irrefutable evidence that this is a really bad idea. Plus, when you listen to Santelli a second time he starts to sound a little more like Howard Beale in Network.

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