Gee, it seems the Americans have still a little fight in them as they rejected the current draft of the $700(+) billion bailout. And the stock indexes tumbled big time. I have read that some people wonder why markets would react like that as in general bailouts don’t work. They just maybe postpone further distress a little and cause bigger trouble later like other government interventions. Thus the market reaction seems somewhat irrational at first sight. Though that is not necessarily so if you consider the possibility that later the government will introduce even worse bailout and the markets are already anticipating such a result. For example Kling notes that:
My guess is that if Obama wins, then the Democrats will spend the next two months pouncing on every negative economic indicator, to try to build the case for massive economic restructuring under his Presidency–making the bailout seem libertarian by comparison.
If the market really anticipates that it is really smarter than the general public thinks. It’s a wild genius!!! Giving the rest of us a rough ride.
Anyway, it seems we are indeed on our way to a serious crisis further down the road as I like many others have been predicting for some time now. Though I do fear the worst might happen, there’s also the chance for a good outcome as George Washington notes:
Stalin said that dictatorships only last so long as the dictators keep their people well-fed. Americans have been strongly motivated not to question the government because they have been led to believe that if they just follow the party line, they’ll get nice jobs, make a bundle of dough, buy into “the American dream”. A crash has the possibility to awaken Americans from their long nap. It has the potential to get Americans to open their eyes and start questioning the lies they have been told by our government and their media lapdogs about virtually everything. Indeed, polls show that the economic crisis has increased Americans’ distrust in government.
That’s good. And just maybe me boycotting American products will lead to a situation that at least one fat American is forced to skip at least one meal at some point and make him seriously reconsider what is happening around him. And even if that scenario will not materialize at least the Jews will not be able to subliminally influence my mind through their Hollywood propaganda masquerading as entertainment if I will not go see any American movies.