Jump! Jump, motherfuckers, jump!
26 September 2008, 7:12 PM
Your Humble Blogger has spent a good deal of time this week working on a blog note about the credit crisis. What I wanted to do was—wait, let me paste this in:
So. Let’s start with finding out what the actual effects [of the crisis on individuals] are. Then, for each major effect, let’s look at (1) why that constitutes a governmental problem, rather than a problem for individuals to address, (ii) how the proposed bailout would help avert or ameliorate the problem, and (c) what other possibilities might address the problem, and then perhaps a comparison of the costs and benefits of those possible solutions.
Well, that note just kept getting longer and longer, and less and less useful, and less and less accurate (because YHB knows almost nothing about macroeconomics and the details of the situation). There are lots and lots of possibilities for dealing with the problems, and each potential course of action has a variety of predictable consequences and of course an infinite variety of unpredictable ones. Almost everything the US government could do at this point will (a) have a lot of bad consequences, and (2) benefit a lot of people who have been dishonest and greedy, and besides (iii) won’t work. So I am not posting the whole note, but I will pass along the one thing I have learned from the exercise.
Corporate Capitalism is some fucked-up shit.
Tolerabimus quod tolerare debemus,