* * *

As to the GOP and the Bush administration, something of more value would be, for example, the bubble-brain mentality about Wall Street and the economy that was shared by the Bush people themselves prior to this unwinding associated with the bursting of the real estate bubble and the panic by hordes of stupid people acting as children and being given stupid Reassurance by Bush himself today on the air.

From my book (by a UK economist) I've been re-reading lately (I've enjoyed his earlier book as well) — here is how the Bush people were feeling not long ago.

“Glenn Hubbard, chairman of the US President's Council of Economic Advisers, dismissed the prospect [of deflation -- DLS] on the basis of four specious arguments. The first is that US productivity growth has been strong, thereby underpinning strong growth in real incomes that in turn would sustain strong growth in consumption. [...] The second argument is that the surge in US house prices is fully sustainable and underpins strong consumption growth. [...] The third argument is that falling prices are not always bad. [...] The fourth is that a sustained decline in prices that magnifies the real burden of debt is unlikely. [...]

One can only hope that the President is receiving better advice on other issues. At least the Fed is well up on the deflation risk [consider Bernanke's near-obscession with it as well as his being known for his study of the Great Depression; the central banks in fact are doing surprisingly more, rather than less, that anticipated and what would cynically be expected at this time, making a good, honest effort at trying to forestall deflation and a large-scale developed-world slump -- DLS] ” and the financial markets are also keenly aware of it.”

A spunky female from America's heartland who scorns intellectualism as elitism–

or a product of a single-parent home who once survived on food stamps, but was able to trade up on his charisma and intellect to eventually run for the highest office in our country.

IMO, this is no time to shoot down ideas- we should be evaluating both good and bad ones for their merit. Neither is it a time for a rigid , divisive ideologist– flexibility and unity will be key to beginning to dig our way out of the hole we are in. One of the reasons I stopped supporting GOP candidates is that the party seemed to blind themselves to real problems so that they didnt' have to find solutions, instead focusing on hot button ideological issues like gun control, gay marriage and flag burning.

They were not open to hearing out opposing ideas about the war in Iraq, global warming, investing in alternative energy solutions or preventing the slow death of the middle class.