John Borland

So, the U.S. House has discarded the plan to save the U.S., and really by some extension, the world economy. The markets have collapsed. It was never an ideal plan in the first place. The insane right wanted changes that had nothing to do with economics, and everything to do with Bizzaro World ideology. So they were out. Ordinary citizens saw the price tag and balked, rightfully so — but because very few people know anything about detailed economics, people really don’t understand why having a functional banking system is an important thing even for them. So they were out. Economists mostly said it was the wrong plan to start with, but we needed something to save the economy, and the weekend’s changes were enough to make it palatable. So they were mostly in, holding their nose. Democrats were stuck being responsible, and got a lot of votes for a second- or third-best plan, but it wasn’t enough. They got stabbed in the back by House Republicans, to use a phrase that has some propaganda value over here.

What next? Collapse, anybody? Maybe there’ll be another attempt after the holidays, with a better plan. Or after the election. Maybe Sarah Palin will come up with something brilliant, and all economics students will be discussing the Moose Doctrine for a century to come.

I’m going on vacation to a village without Internet access for a week. Please don’t break the world completely while I’m gone…