Waiting with Bated Breath

Well, today's the day, folks. Probably by now we already have an idea whether the mortgage bailout is working, as the Asian and Eurpean markets are well underway. As I haven't checked, I don't know. The most massive intrusion of government in our private lives outside of a state of genuine emergency had better work.

At least I suppose it had better work. There's danger if it does: what new attempts at government expansion will rise from the ashes if it does? Still, I am not so naive as to not understanding the practical reality: if it doesn't work, we may well be on our way to third world status if not outright bankruptcy and breakdown. That's extreme, to be sure, but then, so is this plan.

Either way, we're stuck. So it may as well be hoped that it works, and that cooler, more thoughtful heads will prevail when the next crisis appears, or that we will actually experience this only as an abberation and future Congresses will resist using this (possible) success as reason to increase federal power all the more.

Don't bet on it.