It's called a "correction" for a reason. And if the forces of collective insanity do all they can to "stop the correction," they only postpone the ultimate day of reckoning - and make it that much worse -- as Andrew Sullivan tries to explain:
Why? Why does the world owe us a soft
landing after the insanity of the last decade? Haven't the excesses of
the past shown that it is only through such market discipline that we
will ever avoid the easy path of borrowing out of greed? Yes, innocents
will suffer terribly, and many of the guilty will escape. But that is
life: we can and should try to help the poorest, but avoiding our
collective responsibility for this insanity seems a very bad signal to
send to ourselves.
The truth is: we had this coming. We deserve it. And we deserve leaders who are able to tell us that.
The truth is: we had this coming. We deserve it. And we deserve leaders who are able to tell us that.
We can only hope that our new leadership has a grasp on what is really
going on, and sidesteps the temptation of going farther down the path
that has brought us to this perilous destination. But if Pelosi and
Reid and Frank have their way, Obama hasn't got a chance.
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