Smoot-Hawleys of the Congress Unite!

Hey Gang, WICKED long time since I've been on this here thang. Since the world is going to hell in a hand truck, I thought I might throw in my two cents before the big asteroid hits.

The best words I've seen to date on this here sitchee-a-shun is from a couple of unlikely (for me ) sources:

First, David Brooks of the NYTimes --- see his column today.

Also, for a wee bit of comfort, try this from the Wall Street Journal's "Intelligent Investor" page. It might make lunch go down a little smoother.

It is almost fun to watch the GOPs fall down and go boom. I really can't believe that voting down the bailout was any kind of cogent plan on their part. Brooks said it best in his column (and he was trying to be kind):

"House Republicans led the way and will get most of the blame. It has been interesting to watch them on their single-minded mission to destroy the Republican Party. Not long ago, they led an anti-immigration crusade that drove away Hispanic support. Then, too, they listened to the loudest and angriest voices in their party, oblivious to the complicated anxieties that lurk in most American minds.

Now they have once again confused talk radio with reality. If this economy slides, they will go down in history as the Smoot-Hawleys of the 21st century. With this vote, they’ve taken responsibility for this economy, and they will be held accountable. The short-term blows will fall on John McCain, the long-term stress on the existence of the G.O.P. as we know it.

I’ve spoken with several House Republicans over the past few days and most admirably believe in free-market principles. What’s sad is that they still think it’s 1984. They still think the biggest threat comes from socialism and Walter Mondale liberalism. They seem not to have noticed how global capital flows have transformed our political economy. "

Read the rest if youget the chance.