Thursday, September 25, 2008

Bush's speech

UPDATED & BUMPED: From the text:
". . . anxiety . . . worry . . . frustration. . . . uncertainty . . ."
America sounds like a 19-year-old girl trying to decide whether to break up with her two-timing boyfriend. We're all going to eat a quart of Hagen-Daas and listen to emo.
"First, how did our economy reach this point?"
Ann Coulter explains this pretty well. See, there was this guy named Bill Clinton and this other guy named Barney Frank. Also, Andrew Cuomo, Jim Johnson and Franklin Raines -- none of whose names were mentioned in last night's speech.
Optimism about housing values also led to a boom in home construction. Eventually the number of new houses exceeded the number of people willing to buy them. And with supply exceeding demand, housing prices fell.
Yeah, well, not every illegal alien could arrange a home loan. Michelle Malkin explains that part. Then we come to the part that Malkin dubbed the "laugh line of the day":
I'm a strong believer in free enterprise.
Really, he means "free" as in, "Let's give free houses to people who can't afford them."
The government's top economic experts warn that without immediate action by Congress, America could slip into a financial panic, and a distressing scenario would unfold.
Is there anybody you trust less than "the government's top economic experts"? Me neither. Well, so much for shooting fish in a barrel. We're totally screwed, however this turns out.

PREVIOUSLY: I'm not persuaded. I am reminded of Calvin Coolidge's response when France and England complained about repaying their World War I debts: "They hired the money, didn't they?"

A correction is long overdue. When governments attempt to outsmart the market, the "solution" is always worse than the problem. Why should we, the people, become the buyer of last resort because people took out mortgages they couldn't pay? Why should we bail out banks that loaned money to shady "flippers"?

UPDATE: One commenter at Hot Air: "Stock up on Vaseline." Also, there's word that the Democrats are already on board for this gang rape of the American taxpayer.

The senator's top aides said planning for the announcement began late Tuesday night, as McCain began to receive word that Bush's rescue plan was faltering in Congress, and as Democrats began to demand leadership from McCain.
"We got a good sense last night, even more so this morning," one top aide said. "Got in a position where Democrats were warily circling McCain -- not going to commit to a deal unless McCain does. It was just a time for leadership. So he just stepped up."
Doesn't he understand? As soon as McCain endorses the plan, Harry Reid will find some excuse to oppose the plan, Obama will then come out against the plan, and then all the liberal media will jump McCain for supporting the "Bush big-business bailout." It's a trap, Maverick.


  1. Conspiracy theorist that I am, I figured out what this silly stunt is all about.
    I think the Palin /Kouric interview forced McLame's hand. Word is that McLame and friends are trying to negotiate with the BO people about moving the VP debates back some time. Palin wasn't terrible with Kouric, but it was very sub par and not a good look for the Cons. Didn't inspire any confidence in her...
    It can also have something to do with lowering expectations: if McLame sucks at the debate, they'll say he was so busy saving the country he didn't have time to prepare.
    And I do believe he'll show up on Friday.

  2. Y4E,
    Look, no one cares about a silly interview.
    What we should care about is the fact that the actual problem, creeping socialism, evidenced by the destruction of the federal system that made the US great, starting with FDR, is killing us.
    We'll have an increasingly crisis-managed system, beholden to strongmen for 'solutions' and increasingly rigged (at the propaganda level) elections. Look at how hard it is for a candidate like a Nader or Barr to get a word in?
    Frank Zappa: "Keep is greasy so it'll go down easy".

  3. I do care about the bigger problem. I'm simply trying to outline or explain McLame's strange behavior. I hate the idea of Government bailouts for corporations based on the rationale that We The People must encourage and massage Wall Street financial institutions into feeling good about the economy. All this is is a feel good solution for Wall Street. Call it socialism, common sense or what have you, but you can't escape the fact that this is a Bush plan implemented by people that he hired and supported by Bush himself. So any spin that this is a Democrat solution is bogus.
    What's killing us is the lack of principled players in this mess and unfortunately for some of you guys it is YOUR GUY G-Dubbs who's going to own this...