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Up is down…. (part two)

October 1, 2008

(Moore) wisdom from the mouths of fools

“EVERYBODY NEEDS TO TAKE A DEEP BREATH, CALM DOWN, AND NOT LET FEAR RULE THE DAY. Turn off the TV! We are not in the Second Great Depression. The sky is not falling. Pundits and politicians are lying to us so fast and furious it’s hard not to be affected by all the fear mongering. Even I, yesterday, wrote to you and repeated what I heard on the news, that the Dow had the biggest one day drop in its history. Well, that’s true in terms of points, but its 7% drop came nowhere close to Black Monday in 1987 when the stock market in one day lost 23% of its value. In the ’80s, 3,000 banks closed, but America didn’t go out of business. These institutions have always had their ups and downs and eventually it works out.” – Michael Moore

Now, as readers may have gathered, I am against the bailout. This is on mostly right of centre grounds (it’s an unecessary intervention, will waste American taxpayers money and British taxpaers will end up paying for it if Obama has his way) combined with some left of centre grounds (it will tie up money that could be used for universal healthcare). However, the annoying thing about being against the bailout is having to admit that for once, and once only, Michelle Malkin, Ron Paul and now Michael Moore are speaking more sense that the editorial boards of the New York Times and the Wall Street Journal, though some of their solutions (including Michael Moore’s) are almost as bad (or worse) than the Paulson plan.

The annoying thing is that this was unecessary. The PPI (the economic wing of the DLC) had some good advice and Charles Schumer had a good plan. But because Nancy Pelosi has neither the spine nor the political common sense to do anything than capitulate to Bush, America (and the rest of the world if Obama has his way) is going to have to pay. Even more annoying is the fact that Malkin, Paul and Moore will use the fact that they correct on this one issue to try to legitimise all the racist, pacifist and plain nutty garbage they spew out (Sullivan and NRO do not fall into this category).

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