Econo-Rapture

So you're probably thinking that with the GOP in disarray and the financial crisis pretty much proving that Bush-O-Nomics was the worst idea of all time, the Wingnutopshere would be full of gnashing and wailing.

Oh no, my friends. As Dan Riehl proves, you'd be wrong. (h/t Hilzoy)

More and people borrowed against equity they were, in effect, gambling they would have. Well, lo and behold, it isn't there. So does this cycle, this addiction ever end? Should Americans trust the very same people who first created, then abetted and eventually denied this problem to actually fix it? For heaven's sake, you should know better than that.

That even as they were cobbling together a plan they were looking to protect those same bad credit risks that have been benefiting all along should tell you all you need to know about where the liberal heads in control of Congress are really at. And don't kid yourself that this 700 billion dollars will be enough. As they show no real signs of curbing the types of behaviors that got us here in the first place, there's no reason to believe that problems won't continue to mount. And that just means transferring of wealth through increased taxation, again.

Now, frankly, Dan sounds like me here...so of course there's a catch.

How many generations forward must we mortgage to sustain a standard of living for too many people, one which they don't actually deserve?

Some of the alarmists out there might want to take a moment to consider all the ramifications here. It may sound harsh, but the Great Depression produced many things - one of them was called the Greatest Generation.

The great economic boom of the last few decades propped up by dubious credit has produced a generation or two that thinks enough is never enough and if one can't earn it, than you either borrow it, or the government in the form of hard working taxpayers should make sure you get yours in the end.

Ahh there we go! It's not REALLY government's fault. It's poor people's fault. So, let's burn society in the crucible of a financial meltdown and extract the tempered alloy consisting of the screams of the economically disadvantaged and the romance of America declaring war on the Nazi Islamofascist menace. We'll call it Wingnuttium! We'll build katanas and ninja shuriken and lightsabers out of it and sell them on eBay.

But in all seriousness, the social conservative wing of the GOP has just declared war on the Chamber of Commerce wing on the GOP, and there's going to be blood. As far as the first group is concerned, America is going to burn because God doesn't own all our bodies and minds (and the burning part is cool with them, it'll leave the Faithful behind) and the second group is convinced America's going to burn because the fruitcakes in the first group just don't understand that basic economics is a tool for beating down the poor and gaining political power and God has nothing to do with it.

Well, now that this little rift in the economy has ripped the GOP apart, it just remains to see which wing of the Wingnuts will take over the party and which wing will sit home in five weeks and not vote for anybody.

I forsee pretty much the end of the Republican party as we know it. The Godboys think the Country Clubbers are apostates, and the Country Clubbers think the Godboys are morons. It's always been that way, but that was until the Country Clubbers sided with the Democrats in Operation Make Wall Street Rich Heh Heh Heh. Now the Godboys are pissed, and frankly they want to see the country go down in flames -- they figure it'll take a few million illegals, minorities, Muslims, gays, vegans and Democrats along with it when they get to use their guns on things. This makes them very, very happy...and horrifies the Country Club boys, because they'll be included in the "up against the wall the revolution comes" category.

The bad news is over on this side we'll have to adopt the Boss Tweed types and try to rehabilitate them into Blue Dog Democrats or something. Not looking forward to that, but it more or less worked for Andrew Sullivan and Joe Klein.